L Brands Inc Upgraded To Outperform, Tiffany & Co. Downgraded To Neutral At Credit Suisse

Two stocks in the Luxury Retail group are trading in opposite directions Wednesday morning following some analyst action over at Credit Suisse. The firm's Christian Buss upgraded shares of L Brands Inc LB while at the same time downgrading shares of Tiffany's & Co. TIF. Buss boosted his investment recommendation on L Brands from Neutral to Outperform and his price target from $65 to $73. The analyst lowered his rating on Tiffany from Outperform to Neutral and maintained a $112 target. Shares of L Brands and Tiffany are responding appropriately this morning: L Brands shares trading up about 1 percent while shares of Tiffany are down about 0.5 percent. With L Brands shares last trading at $64.36, Buss's new price target implies potential upside of about 13 percent. The Credit Suisse analyst's target on Tiffany represents possible price appreciation of nearly 11 percent from where the stock is currently trading ($101).