Mizuho Securities Reiterates Buy on Tiffany & Co. (TIF) Following 3Q Report

November 29, 2016 9:33 AM EST
Get Alerts TIF Hot Sheet
Price: $84.31 +1.29%

Rating Summary:
    17 Buy, 16 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 20 | Down: 30 | New: 24
Trade TIF Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.

Mizuho Securities reiterated a Buy rating and $82.00 price target on Tiffany & Co. (NYSE: TIF) following the company's 3Q earnings report. TIF reported EPS of $0.76, above the Street’s estimate of $0.67. Management reiterated prior guidance for – MSD% decline in EPS, which implies FY16 EPS of $3.61-3.68, relative to consensus of $3.67.

Analyst Betty Chen commented, "We are encouraged by another quarter of EPS upside and affirmation of FY16 outlook despite a challenging macro environment and traffic disruptions at its NY 5th Ave flagship. With better-than-expected sales trends in the Americas and Japan, led by Japanese spending, we are hopeful the favorable currency environment will aid Holiday spending. We also believe strength in fashion jewelry underscores efforts made by management in increasing newness and elevating the overall assortment. Looking to 4Q and FY17, we highlight the company can continue to benefit from 1) easy compares, 2) product repositioning, 3) marketing initiatives, and 4) favorable input costs."

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 $78.14 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments, Analyst EPS View

Related Entities

Earnings

Add Your Comment