Nomura Securities Maintains a 'Neutral' on Tiffany & Co. (TIF); 3Q Incremental Info
Tweet
Share
E-mailGet Alerts TIF Hot Sheet
Price: $131.46 --0%
Rating Summary:
4 Buy, 31 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 31 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Nomura Securities maintains a 'Neutral' on Tiffany & Co. (NYSE: TIF) price target of $70.00.
Nomura analyst, Paul Lejuez, says, "TIF beat consensus estimates for 3Q, but cautious comments about current business trends are the cause for the mkt concern. The company noted a November slowdown in the Eastern US and Europe and has forecast a deceleration in trends in these regions in 4Q (though we note that on an absolute basis, expectations for 4Q are still relatively strong). Difficult comparisons in F12 and the potential for continued GM compression seem likely to limit earnings upside in F12. We are reducing our F11E from $3.82 to $3.79 and our F12E from $4.35 to $4.27. Our $70 TP represents ~9x our F12E EBITDA, in-line with its luxury peers."
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 $67.22 yesterday.
Nomura analyst, Paul Lejuez, says, "TIF beat consensus estimates for 3Q, but cautious comments about current business trends are the cause for the mkt concern. The company noted a November slowdown in the Eastern US and Europe and has forecast a deceleration in trends in these regions in 4Q (though we note that on an absolute basis, expectations for 4Q are still relatively strong). Difficult comparisons in F12 and the potential for continued GM compression seem likely to limit earnings upside in F12. We are reducing our F11E from $3.82 to $3.79 and our F12E from $4.35 to $4.27. Our $70 TP represents ~9x our F12E EBITDA, in-line with its luxury peers."
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 $67.22 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
- Cisco rating cut at HSBC as analyst sees a lack of catalysts
- UBS Reiterates Buy Rating on NVIDIA (NVDA), Expects Q2 Revenue Beat
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Nomura, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
