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Fly News Breaks for August 21, 2019
TIF
Aug 21, 2019 | 07:40 EDT
BofA/Merrill analyst Lorraine Hutchinson lowered Neutral rated Tiffany estimates and reduced her price target to $90 from $103 to reflect slower sales growth. The analyst said aggregated credit and debit card data indicates Luxury and Jewelry sales trends slowed in Q2 versus Q1. As a result, Hutchinson now estimates second half sales growth of 10%, versus 13% previously, and trimmed her FY19 earnings estimate to $4.69 from $4.77.
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