Tiffany & Co Expected To Beat 3Q Estimates (TIF)

Goldman Sachs has published a research report on Tiffany & Company

in anticipation of the company's 3Q results during which Goldman expects a beat. In the report, Goldman Sachs writes "We expect a 3Q EPS beat but setup could pose challenges. Beat likely to stem from (1) strong high-end spending like other luxury retailers with international exposure and (2) strengthening FX rates should boost EPS and tourist spend. However, through 3Q EPS season, stocks with demanding set-ups have largely traded lower even with strong EPS beats. TIF has shown the third-largest increase since 2Q EPS (+43%), relative to peers and thus could be vulnerable to a sell-off, even if the company delivers solid results." Goldman Sachs maintains its Sell rating and $42 price target. Tiffany & Company closed Friday at $58.03.