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UPDATE: Canaccord Genuity Downgrades Tiffany & Co to Hold on Lack of Near-Term Visibility

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Canaccord Genuity downgraded Tiffany & Co (NYSE: TIF) from Buy to Hold and maintained at $58.00 price target.

Canaccord Genuity noted, "We are downgrading shares of TIF from Buy to HOLD as the company's sales momentum continues to decelerate against an uncertain macroeconomic backdrop. Recent tax law changes threaten to pressure luxury spending, particularly from aspirational consumers. We believe TIF's near-term visibility is clouded as evidenced by the fact that EPS has missed expectations for four consecutive quarters, and recent guidance for FY12 EPS at the low end of the $3.20-$3.40 range is 19% below management's initial outlook."

Tiffany & Co closed at $62.73 on Wednesday.

Latest Ratings for TIF

DateFirmActionFromTo
Sep 2014Credit SuisseDowngradesOutperformNeutral
Aug 2014Credit SuisseMaintainsOutperform
Aug 2014MacquarieMaintainsNeutral

View More Analyst Ratings for TIF
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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