Cowen Upgrades Tiffany & Co. (TIF) to Outperform

November 11, 2016 6:15 AM EST
Get Alerts TIF Hot Sheet
Price: $79.42 +0.49%

Rating Summary:
    17 Buy, 17 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Cowen upgraded Tiffany & Co. (NYSE: TIF) from Neutral to Outperform with a price target of $90.00 (from $74.00), saying luxury is coming back and the company is a well positioned, trusted brand.

Analyst Oliver Chen commented, "We upgrade TIF to Outperform w/ new $90PT given our conviction on improving 2H comps & return to growth in '17 on traffic/unit improving. Our thesis is driven by positive read-throughs from lux. peers combined w/ achievable guide, compelling long-term franchise, well-understood negatives, easy compares & multiple expansion prospects."

For an analyst ratings summary and ratings history on Tiffany & Co. click here. For more ratings news on Tiffany & Co. click here.

Shares of Tiffany & Co. closed at $80.23 yesterday.

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