Mizuho Securities Reiterates Buy on Tiffany & Co. (TIF) Following CFO Appointment

September 13, 2016 8:30 AM EDT
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Price: $78.74 -0.86%

Rating Summary:
    17 Buy, 17 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Mizuho Securities reiterated a Buy rating and $82.00 price target on Tiffany & Co. (NYSE: TIF) following the company's announced appointment of Mark Erceg as CFO. Erceg's appointment is effective 10/18/2016.

Analyst Betty Chen commented, "We believe the appointment of seasoned executive Mark Erceg as CFO further bolsters the executive team at Tiffany & Co. Mr. Erceg’s strong financial and operational background with broad International brands pairs well with the company’s strategic growth initiatives to combine compelling product/new collections with enhanced operational discipline (inventory management and vertical supply chain). As a reminder, the company recently posted a 2Q beat, delivering its 13th consecutive of gross margin improvements."

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 $68.30 yesterday.

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