Jefferies Has Hold On Tiffany & Co.

Jefferies & Co. is out with a research report on Tiffany & Co.

and it has a Hold rating and a $70 price target. In a note to clients, Jefferies & Co. writes, "We expect TIF to report a solid 2Q with good comps and some margin expansion. However we remain cautious on the outlook in light of the recent global stock market slide and increasingly difficult compares. As such we view current risk/reward as balanced and reiterate our Hold rating." Shares of TIF gained 95 cents yesterday to close at $63.67.