Wells Fargo Maintains an 'Outperform' on Tiffany & Co. (TIF); Raising Numbers After Guidance Better Than Feared

Wells Fargo maintains an 'Outperform' on Tiffany & Co. (NYSE: TIF) price target range raised from $63-73 to $79-$83.

Wells analyst said, "We are raising our FY2012E EPS to $4.02 from $3.95 and introducing our FY2013E EPS of $4.62 (15% growth yr/yr, in line with TIF's long term annual EPS growth goal)...We believe that TIF has a strong brand with long term global growth potential, including the opportunity to significantly grow its store base in Europe & Asia. Market consolidation in the US jewelry industry could drive market share gains for TIF. Longer term, we believe TIF can continue to grow margins through improved sales productivity and a mix shift to higher-margin international businesses."


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 $73.27 yesterday.

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