tiffany outlet tiffany outlet tiffany jewelry outlet Ahead of the Bell: Tiffany & Co. Analyst cuts Tiffany rating on stock price, raises price target on improved visibility Like Dislike Edit content preferences Done August 28, 2013
tiffany tiffany tiffany jewelry NEW YORK (AP) -- A Citi Investment Research analyst is lowering his rating for Tiffany & Co. due to the high-end jewelry company's stock price, but raising its price target on improved visibility.
tiffany outlet locations On Tuesday, Tiffany boosted its full year-earnings forecast after reporting a 16 percent increase in its second-quarter profit on strong sales in China that offset sluggish growth in the U.S.
tiffany rings Oliver Chen of Citi Investment Research said that the New York company's shares are up 42 percent for the year to date. He cut the chain's rating to "Neutral" from "Buy."
wholesale tiffany jewelry "We believe the stock could be in wait and see mode as Tiffany works to reinvigorate growth in the Americas," he wrote in a client note. But the analyst believes there's better visibility on the company now, and lifted its price target to $88 from $84. Chen said that he's impressed by the retailer's strong performance in Asia, Europe and Japan during the second quarter. He noted that there is rising global awareness of the brand, with customers snapping up its more expensive statement and fine jewelry. Looking toward the holidays, Chen said that Tiffany will likely remain dependent on sales of items in the $300 to $500 range. He views the company as being on the right track, as they are looking to raise prices, incorporate new fashion jewelry and provide a better product mix to shoppers. Tiffany does not comment on analyst reports. Its shares finished at $80.82 on Tuesday after hitting a 52-week high of $83.33 earlier in the day.
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