Barclays Lowers Estimates on Tiffany & Co. (TIF); Still Sees Significant Value
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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
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Barclays maintains an 'Overweight' on Tiffany & Co. (NYSE: TIF) price target of $80.00.
Analyst, Robert S. Drbul, said, "...Net sales growth of 8% came in slightly below expectations due to a soft April and weakness in the Americas, which was consistent with overall trends in the high end jewelry category...Trading at more than a 25% discount to its global luxury peers, facing easing comp comparisons in the back half of the year and into 2013, as well as an expected reversal in cost trends in Q4, we continue to see significant value in the shares."
FY12 EPS estimate lowered from $4.00 to $3.75 and FY13 from $4.45 to $4.30.
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, Robert S. Drbul, said, "...Net sales growth of 8% came in slightly below expectations due to a soft April and weakness in the Americas, which was consistent with overall trends in the high end jewelry category...Trading at more than a 25% discount to its global luxury peers, facing easing comp comparisons in the back half of the year and into 2013, as well as an expected reversal in cost trends in Q4, we continue to see significant value in the shares."
FY12 EPS estimate lowered from $4.00 to $3.75 and FY13 from $4.45 to $4.30.
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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