Loop Capital analyst Laura Champine lowered her price target on Tiffany to $110 to reflect her lowered earnings estimates for FY19 to $5.02 from $5.11. The analyst cites "weak tourist traffic" impacting demand levels along with lower sales of designer jewelry weighing on the company's gross margins. Champine keeps her Buy rating on Tiffany however and urges investors to "step into the stock" at current levels, given that the company is in the "early stages of a multi-year upgrade to its store environment" that is already showing "meaningful improvements."