Canaccord Genuity Maintains a 'Hold' on Tiffany & Co. (TIF); Cutting PT and Estimates
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Price: $131.46 --0%
Rating Summary:
4 Buy, 31 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 31 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Hold' on Tiffany & Co. (NYSE: TIF) price target lowered from $69 to $63.
Analyst, Laura Champine, said, "TIF reported Q1 EPS of $0.64, $0.05 below our estimate and consensus...TIF reduced its FY12 consolidated sales growth guidance from 10% to 7%-8% and cut EPS guidance by $0.25 to $3.70-$3.80 versus consensus at $3.97. We are lowering our FY12 EPS estimate by $0.31 to $3.73 on a 200bps reduction in our sales growth forecast to 8%. We believe slowing sales growth trends justify a HOLD rating, and we are lowering our PT."
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 $57.59 yesterday.
Analyst, Laura Champine, said, "TIF reported Q1 EPS of $0.64, $0.05 below our estimate and consensus...TIF reduced its FY12 consolidated sales growth guidance from 10% to 7%-8% and cut EPS guidance by $0.25 to $3.70-$3.80 versus consensus at $3.97. We are lowering our FY12 EPS estimate by $0.31 to $3.73 on a 200bps reduction in our sales growth forecast to 8%. We believe slowing sales growth trends justify a HOLD rating, and we are lowering our PT."
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 $57.59 yesterday.
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