Sterne Agee Reiterates Neutral on Tiffany & Co. Following Q4 Results
In a report published Friday, Sterne Agee analyst Ike Boruchow reiterated a Neutral rating and $68.00 price target on Tiffany & Co. (NYSE: TIF).
In the report, Boruchow noted, “With TIF shares up over 25% YTD amid a very challenging operating environment, we remain sidelined on the stock following Q4 results. While their 2013 outlook was affirmed (6-9% EPS growth), Q1 guidance was well below expectations (EPS down 15-20%) as GMs and expenses pressure margins. FY results should improve throughout the year, but TIF is clearly starting in the hole - creating incremental risk to the story. Maintain PT of $68 (20x FY13E EPS).”
Tiffany & Co. closed on Thursday at $70.38.
Latest Ratings for TIF
|Jan 2015||Wells Fargo||Upgrades||Market Perform||Outperform|
|Dec 2014||Cowen & Company||Initiates Coverage on||Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.