Mizuho Securities Reiterates Buy on Tiffany & Co. (TIF) Following 3Q Report
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your 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."
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
- BofA/Merrill Lynch Upgrades CF Industries (CF) to Buy, Says "Consensus Estimates Now Beatable"
- United Rentals (URI) PT Raised to $130 at Jefferies Ahead of 4Q Report
- Drexel Hamilton Reiterates Buy on IBM (IBM) Following 4Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!