On Wednesday, Topeka Capital Markets reiterated its “Buy” rating on Tiffany and Co. (TIF) due to a stronger macro environment and room for growth.
Along with the “Buy” rating, Topeka analyst Dorothy S. Lakner raised the price target for Tiffany to $86.
Topeka commented, “In this note, we focus on TIF’s global mix amidst recent macro news indicating continued economic improvement in the U.S., perhaps some stabilization in Europe, slower China but an improved Japan, TIF’s most profitable market. We believe TIF remains under-penetrated in key markets like Asia and Europe, providing plenty of growth in the years ahead. New product introductions and TIF’s longer-term strategy to elevate the brand also make us bullish on TIF’s future.”
Tiffany’s shares were up just slightly on the day, and the company is up over 23% YTD.
The Bottom Line
Shares of Tiffany and Co. (TIF) have a 1.87% dividend yield based on Wednesday’s closing price of $72.56.
Tiffany and Co. (TIF) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here