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TIF

Tiffany

$88.42

-1.43 (-1.59%)

10:56
01/22/19
01/22
10:56
01/22/19
10:56

Tiffany making the right investments to become competitive, says Loop Capital

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.

  • 22

    Jan

TIF Tiffany
$88.42

-1.43 (-1.59%)

01/22/19
01/22/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Gap (GPS) downgraded to Sell from Neutral at Goldman Sachs while Tiffany (TIF) was downgraded to Neutral from Buy. 2. U.S. Steel (X) downgraded to Hold from Buy at Jefferies with analyst Seth Rosenfeld saying "poor" Q4 earnings and Q1 guides will begin to reflect the extent of recent steel margin weakness. 3. Fortinet (FTNT) downgraded to Market Perform from Outperform at BMO Capital with analyst Keith Bachman saying he is not bearish on the stock, expecting the firewall market to remain healthy for several years given the changing throughput requirements, but sees the rating change as reflective of its more balanced risk-reward. 4. Crispr Therapeutics (CRSP) downgraded to Sell from Neutral at Citi with analyst Yigal Nochomovitz saying Crispr's near-term valuation driver and lead program in related blood disorders "substantially lags" more advanced competitors. 5. AMC Entertainment (AMC) downgraded to Neutral from Buy at B. Riley FBR with analyst Eric Wold saying the ramp of the company's subscription service Stubs A-List clouds its EBITDA visibility. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/22/19
NOMU
01/22/19
NO CHANGE
Target $108
NOMU
Buy
Tiffany price target lowered to $108 from $125 at Nomura Instinet
Nomura Instinet analyst Simeon Siegel lowered his price target for Tiffany to $108 after the company's holiday sales release and fiscal earnings guidance missed estimates. However, with the outlook "above fears," the shares traded higher, adds the analyst. He expects near-term pressures to persist with optimism towards the second half of 2019 and keeps a Buy rating on Tiffany.
01/22/19
GSCO
01/22/19
DOWNGRADE
Target $104
GSCO
Neutral
Tiffany downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Alexandra Walvis downgraded Tiffany to Neutral and lowered her price target for the shares to $104 from $136. The analyst sees increasing evidence of a "toughening macro environment" for luxury goods demand. Headwinds for high-end consumer and tourist spending at Tiffany will offset the company's continued progress on new management initiatives in the near term, Walvis tells investors in a research note. The analyst believes slowing sales growth will drive more limited operating leverage and earnings growth going forward for Tiffany.
01/18/19
LOOP
01/18/19
NO CHANGE
Target $100
LOOP
Buy
Tiffany price target cut to $100 from $110 at Loop Capital
Loop Capital analyst Laura Champine maintained a Buy rating on Tiffany & Co but lowered her price target to $100 after updating her model for a reduction in sales driven by market volatility and lower sales to Chinese tourists. The stock is attractive, she tells investors in a research note, given her longer-term expectations for top- and bottom-line growth and trades at 17.5x her F2019 EPS estimate and 10x F2019 EV/EBITDA.

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$NSD

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