Nomura Securities Maintains a 'Neutral' on Tiffany & Co. (TIF); Cutting Estimates and Price Target

May 25, 2012 8:41 AM EDT
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Price: $79.94 +0.05%

Rating Summary:
    17 Buy, 17 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Nomura Securities maintains a 'Neutral' on Tiffany & Co. (NYSE: TIF) price target lowered from $65 to $62.

Analyst, Paul Lejuez, said, "Revenues fell below plan in 1Q and have decelerated further in 2Q, leading to guidance for YoY earnings decreases over the next two qtrs. F12 guidance is heavily weighted on 4Q adding risk to consensus estimate of $3.89. Additionally, price has been the driver of comps and management can’t raise it further given weak sales trends. We are decreasing our F12E from $3.99 to $3.53 and our F13E from $4.45 to $3.85. TIF is a strong global brand with good int’l growth potential. However, we believe the next several data points are likely to disappoint."

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 $57.59 yesterday.

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