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Fly News Breaks for May 23, 2018
TIF
May 23, 2018 | 10:01 EDT
Loop Capital analyst Laura Champine raised her price target on Tiffany shares to $134 from $113 following the company's Q1 report, noting that its constant-currency same-store sales growth of 7% topped her 4% view and the consensus forecast of 3%, which she attributes to the design team's turnaround success. She expects same-store sales to grow 5% on a constant-currency basis for the year, which would mark the highest growth rate by that metric since fiscal 2013. Champine keeps a Buy rating on Tiffany shares.
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