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UPDATE: Jefferies Reduces PT to $55 on Tiffany & Co Following Q3 Results

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Jefferies reiterated its Hold rating on Tiffany & Co (NYSE: TIF) and reduced its price target from $62 to $55.

Jefferies noted, "TIF posted softer than expected 3Q results primarily due to weaker margins. The company also lowered its outlook and now expects GM% declines in 4Q. Clearly TIF is under pressure from product cost inflation and some tough global macro trends. While we think the earnings bar is now low enough, we prefer to remain on the sidelines for now and will reassess for next year."

Tiffany & Co closed at $59.30 on Wednesday.

Latest Ratings for TIF

DateFirmActionFromTo
Aug 2015Cantor FitzgeraldMaintainsHold
Jul 2015Mizuho SecuritiesInitiates Coverage onBuy
Jul 2015BernsteinUpgradesMarket PerformOutperform

View More Analyst Ratings for TIF
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Intraday Update Analyst Ratings

 

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