Tiffany (TIF) Buy Rating Reiterated at KeyBanc

KeyBanc reiterated a Buy rating on Tiffany & Co. (NYSE: TIF) with a price target of $102.00. Analyst Edward Yruma sees compelling short- and long-term opportunities in the stock.

"We recently had the opportunity to meet with Mark Aaron, VP of Investor Relations, and believe that the Company is in the midst of a number of positive changes that can drive strong long-term performance. In particular, we continue to highlight the renewed focus on fashion jewelry (43% of Americas sales) and watches (1% of total sales) as two areas of intensive new product introductions over the next 12 months. Finally, in the midst of a still-promotional environment, Tiffany is one of the only companies in our coverage universe that has visible gross margin levers in 2014 (we model +50 bps in expansion)," said Yruma.

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 $86.41 yesterday.

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