Oppenheimer analyst Brian Nagel reiterated a Buy rating on Tiffany & Co (NYSE: TIF) today and set a price target of $115. The company’s shares closed yesterday at $102.32.
Nagel commented:
“We reiterate our Outperform rating on Tiffany (TIF) and lift our 12-18 month price target on shares to $115 from $105. Following a steady climb higher in TIF, and with shares approaching our prior price objective, we revisited closely our positive thesis on shares. We conclude: a) A more aggressive strategic enhancement strategy at TIF is still getting underway, and likely to yield even better results in coming quarters; b) Macro tailwinds are strengthening, including a weaker US dollar and indications of building global consumer wealth; and c) While no longer cheap, TIF shares continue to underappreciate the potential for an improving sales and EPS trajectory at the chain. Our new $115 price target suggests upside of about 15% from current levels.”
According to TipRanks.com, Nagel is a 4-star analyst with an average return of 3.5% and a 57.7% 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 $116.60, representing a 14.0% upside.
In a report released yesterday, Guggenheim also maintained a Buy rating on the stock.
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Tiffany & Co’s market cap is currently $12.74B and has a P/E ratio of 34.57. The company has a book value ratio of 3.9398.
Based on the recent corporate insider activity of 72 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.
