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Fly News Breaks for June 27, 2017
TIF
Jun 27, 2017 | 06:38 EDT
BofA/Merrill analyst Lorraine Hutchinson added Tiffany to the US 1 List and reiterated a Buy rating and $110 price target on shares. Hutchinson sees several catalysts leading to a 2017 turnaround including an increased pace of innovation by a new Head Designer, the shakeup in management and Board, and the "wealth effect" from the rising stock market. The analyst believes second half 2017 could see a comp inflection and said Tiffany is one of the few retailers with pricing power.
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