Tiffany guidance conservative, says Wells Fargo Wells Fargo believes that Tiffany's EPS guidance for Q2 and 2014 seem conservative. However, the firm thinks that the stock's reaction yesterday indicates that the market has reached the same conclusion. Wells raised its price target on the shares to $90-$94 from $86-$90. It keeps a Market Perform rating on the stock.
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.