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Fly News Breaks for April 14, 2015
TIF
Apr 14, 2015 | 15:10 EDT
Macquarie reports that new travel restrictions were implemented last weekend for Chinese citizens traveling from the mainland to Hong Kong and Macau .According to the firm, Tiffany said during its Q3 results conference call that its nine stores in Hong Kong "contribute a meaningful part of (its) Greater China sales," while Mainland China, Hong Kong, Taiwan and Macau represent more than half of its Asia-Pacific sales. Macquarie thinks weak tourism may result in "choppy" results for Tiffany this year, but it says that the company has a number of positive catalysts. It keeps a $98 price target and Outperform rating on the shares.
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