.jpg "Tiffany & Co (NYSE: TIF)")
Oppenheimer analyst Brian Nagel reiterated a Buy rating on Tiffany & Co (NYSE: TIF) today and set a price target of $145. The company’s shares closed yesterday at $130.78, close to its 52-week high of $132.03.
Nagel said:
“We reiterate our Outperform rating on Tiffany (TIF) and lift our 12-18 month price target on shares to $145 from $115. Over the past several months, we have aggressively highlighted the potential for a revamped board and senior management at TIF to enhance operational disciplines and better unlock the sales/earnings power of the company’s underlying, powerful brand. Following much better-than-expected Q1 (Apr.) results and a subsequent spike higher in shares, we revisited our thinking on TIF. We conclude that aggressive internal initiatives coupled with an improving macro backdrop are now fueling a meaningful recovery at TIF, proving even quicker and more powerful than we initially anticipated. We expect money to continue to flow into TIF shares as clearer evidence of improving fundamentals emerges.”
According to TipRanks.com, Nagel is a 4-star analyst with an average return of 5.8% and a 61.9% success rate. Nagel covers the Services sector, focusing on stocks such as Restoration Hardware Holdings Inc, Dick’s Sporting Goods, and Advance Auto Parts.
Currently, the analyst consensus on Tiffany & Co is Strong Buy and the average price target is $139.11, representing a 6.4% upside.
In a report issued on May 23, Cowen & Co. also reiterated a Buy rating on the stock with a $140 price target.
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The company has a one-year high of $132.03 and a one-year low of $86.15. Currently, Tiffany & Co has an average volume of 1.9M.
Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TIF in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Tiffany & Co. is a holding company, which through its subsidiaries, engages in manufacture and sale of jewelry merchandise. The firm also sells timepieces, leather goods, sterling silver goods, china, crystal, stationery, fragrances, and accessories. It operates through the following geographical segments: Americas, Asia-Pacific, Japan, Europe, and Other.
