Market Overview

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

Share:
Related TIF
Will Sequins Once More Grace This Weekend's Red Carpet?
Fifth Ave – Known For Luxury – Seems More Run Down Than Ever
One Big Reason Why Retailing Stocks Often Become Great Short Plays (Investor's Business Daily)

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
Feb 2017HSBCDowngradesBuyHold
Feb 2017MizuhoDowngradesBuyNeutral
Jan 2017Atlantic EquitiesDowngradesOverweightNeutral

View More Analyst Ratings for TIF
View the Latest Analyst Ratings

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

 

Related Articles (TIF)

View Comments and Join the Discussion!