What Made Oppenheimer Upgrade Tiffany & Co’s Stock?


Oppenheimer analyst Brian Nagel upgraded Tiffany & Co (NYSE: TIF) to Buy on October 1 and set a price target of $152. The company’s shares opened today at $125.50.

Nagel observed:

“On 9/12/18, we upgraded $152 price target. In our view, the risk/reward trade-off in owning TIF nearer term is now much more favorable. For TIF, the threat of a stronger US dollar impacting sales to foreign tourists remains. That said, we are now more comfortable that a few factors can help mitigate this risk for TIF and shareholders: 1) following a marked pullback, shares now trade at a more accommodative valuation; 2) updated FY18 guidance accounts for the potential impacts of a stronger US dollar; and 3) key internal initiatives at TIF are taking hold, while demand dynamics domestically and internationally are strengthening. We are not necessarily calling bottom in TIF; however, we now foresee longer term upside potential as more than offsetting downside risks near term.”

According to TipRanks.com, Nagel is a 5-star analyst with an average return of 9.3% and a 65.0% success rate. Nagel covers the Services sector, focusing on stocks such as Dick’s Sporting Goods, Advance Auto Parts, and Lumber Liquidators.

Tiffany & Co has an analyst consensus of Moderate Buy, with a price target consensus of $146.64, which is a 16.8% upside from current levels. In a report issued on September 26, Cowen & Co. also reiterated a Buy rating on the stock with a $150 price target.

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Based on Tiffany & Co’s latest earnings release for the quarter ending July 31, the company reported a quarterly net profit of $145 million. In comparison, last year the company had a net profit of $115 million.

Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is neutral on the stock. Last month, Lawrence Fish, a Director at TIF sold 8,898 shares for a total of $1,138,499.

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.

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