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Fly News Breaks for May 18, 2018
M, TIF
May 18, 2018 | 07:15 EDT
Oppenheimer analyst Brian Nagel said he is "positive" on Tiffany & Co (TIF) into the Q1 results on May 23. In a research note to investors, Nagel said he believes that a strengthening maco backdrop, including better spending by foreign shoppers, could drive "solid" results, similar to Macy's (M), which recently said increased tourist spending helped to drive better than forecast comps. Additionally, he believes that Tiffany's new senior leadership, was which spurred by an activist investor, could unlock "meaningfully" improved financial results and better leverage an underlying, powerful luxury brand. Nagel has an Outperform rating and $115 price target on Tiffany & Co shares.
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