Tiffany upgraded to Buy from Neutral at Citigroup Citigroup upgraded its rating on Tiffany (TIF) to Buy from Neutral on expectations the company's new management and design teams will drive improved same store sales. Citi also expects stabilizing trends in silver fashion jewelry to bring gross margin upside and a higher share price. The firm raised its price target for the stock to $110 from $100. Tiffany shares closed yesterday down 28c to $93.06.
Tiffany downgraded to Outperform from Buy at CLSA CLSA downgraded Tiffany to Outperform from Buy due to reduced Mainland Chinese tourism to Hong Kong, where 7% of sales are at risk. Price target is $101.
Goldman sees select Apparel and Footwear opportunities due to FX risk Goldman said translation currency exposure in the Apparel and Footwear has created volatility and opportunity to gain exposure to this theme. Goldman's analyst sees a positive near-term set-up for Nike (NKE) and Tiffany (TIF) and a negative set-up for Crocs (CROX) and Abercrombie & Fitch (ANF) and of upcoming earnings reports.