Fly News Breaks for December 6, 2019
Dec 6, 2019 | 06:34 EDT
Credit Suisse analyst Michael Binetti downgraded Tiffany to Neutral from Outperform with a $135 price target following the company's Q3 EPS miss. In a research note to investors, Binetti said that while the company provided a "disappointing" Q3 update, he still believes that the proposed LVMH (LVMUY) deal is likely to best path for Tiffany. The analyst continues to believe the proposed deal makes sense at $135 per share.
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