Loop Capital analyst Laura Champine reiterated a Buy rating and $100 price target on Tiffany & Co after meeting with the company's management that focused on its improved planning processes over the past one-to-two years. In a research note to investors, the analyst says that though Tiffany's sales clearly swing with the market's fortunes and geopolitical events, she thinks the company is making the right investments to become more competitive and hold and eventually gain share in the branded jewelry industry. Champine says she believes her new FY19 EPS estimate of $4.83 is "conservative" given the potential for margin expansion this year, though this is likely to be somewhat offset by a higher tax rate and changes in lease amortization accounting rules.