Wells Fargo Raises PT on Tiffany & Co (TIF)

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Wells Fargo today maintained an Outperform rating on Tiffany & Co. (NYSE: TIF) and boosted its price target to $75 to $79 (from $67 to $71). This morning Tiffany reported earnings that topped estimates.

Commenting on the news analyst Evren Kapelman said lower production costs are beginning to flow through and the company is seeing improved free cash flow. This is partially offset by soft sales trends.

Kapelman revised Tiffany estimates higher to reflect "margin recovery opportunity".

For an analyst ratings summary and ratings history on Tiffany & Co. (NYSE: TIF) click here. For more ratings news on Tiffany & Co. click here.

Shares of Tiffany & Co. closed at $67.91 yesterday, with a 52 week range of $49.72-$73.50.

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