Tiffany & Co. (TIF) 5th Ave Flagship Store Traffic Robust Despite Trump Protests - Jefferies
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Jefferies analyst Randal Konik said checks at Tiffany & Co. (NYSE: TIF) 5th Ave. flagship store showed strength despite fears the Trump Tower protests where hurting traffic.
Konik commented, "To mitigate investor fears regarding the Trump Tower protests near the TIF 5th Avenue flagship, we spent three days monitoring the store to gauge traffic patterns and any protest related issues. This report details our daily observations inside and outside the store, and the conclusions are 1) store traffic was robust, not weak, 2) street police activity was high but didn’t inhibit entrance to store, and 3) protests died down."
The firm maintained a Buy rating and price target of $100 on TIF.
Shares of Tiffany & Co. closed at $76.19 yesterday.
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