KeyBanc Defends Tiffany & Co. (TIF): Adjusting Numbers, But Remains a Long-Term Favorite
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Price: $76.21 +0.03%
Rating Summary:
7 Buy, 13 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
7 Buy, 13 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade TIF Now!
KeyBanc maintains a 'Buy' on Tiffany & Co. (NYSE: TIF) price target of $72.00 (from $80.00).
Analyst,vEdward Yruma, said, "Tiffany & Co. remains one of our favorite long-term stocks. While we are reticent to call a bottom, margins should see positive tailwinds in the 4Q. 2Q's $0.72 EPS was respectable in light of exceedingly difficult macroeconomic pressures and difficult comparisons. This compares to our estimate of $0.80 and consensus estimate of $0.73. More importantly, the Company reiterated its view that gross margin pressures should abate in the 4Q as the Company benefits from lower commodity costs. While top-line trends remain highly volatile, we think that the 3Q could serve as a bottom, at least from a margin perspective...For long-term investors, this remains a very compelling entry point."
FY12 EPS estimate lowered from $3.70 to $3.55.
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 $62.71 yesterday, with a 52 week range of $49.72-$80.99.
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Analyst,vEdward Yruma, said, "Tiffany & Co. remains one of our favorite long-term stocks. While we are reticent to call a bottom, margins should see positive tailwinds in the 4Q. 2Q's $0.72 EPS was respectable in light of exceedingly difficult macroeconomic pressures and difficult comparisons. This compares to our estimate of $0.80 and consensus estimate of $0.73. More importantly, the Company reiterated its view that gross margin pressures should abate in the 4Q as the Company benefits from lower commodity costs. While top-line trends remain highly volatile, we think that the 3Q could serve as a bottom, at least from a margin perspective...For long-term investors, this remains a very compelling entry point."
FY12 EPS estimate lowered from $3.70 to $3.55.
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 $62.71 yesterday, with a 52 week range of $49.72-$80.99.
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