Oppenheimer Maintains Their Buy Rating on Tiffany & Co (TIF)

By Austin Angelo

Oppenheimer analyst Brian Nagel maintained a Buy rating on Tiffany & Co (TIFResearch Report) today and set a price target of $152. The company’s shares closed yesterday at $84.01, close to its 52-week low of $73.04.

Nagel observed:

“For a while, we have maintained a positive stance toward Tiffany (TIF) and its shares, on prospects for new senior leadership, supported by a noted activist investor, to better capitalize on a long-standing and well-respected brand name. TIF is set to report Holiday sales results on Fri., Jan. 18th. We recommend clients approach this upcoming data point cautiously. In our view, a collection of potentially negative external factors, including weaker spending by Chinese tourists, financial market volatility, and geopolitical disturbances, likely somewhat offset internal initiatives at the brand. A now historically discounted valuation should provide some downside protection in shares. We recommend longer term-oriented investors use any additional weakness in shares as a buying opportunity.”

According to TipRanks.com, Nagel is a 4-star analyst with an average return of 4.8% and a 56.9% success rate. Nagel covers the Services sector, focusing on stocks such as Weight Watchers International, Capri Holdings Limited, and Dick’s Sporting Goods.

Tiffany & Co has an analyst consensus of Moderate Buy, with a price target consensus of $117, which is a 39.3% upside from current levels. In a report issued on January 4, Citigroup also maintained a Buy rating on the stock with a $125 price target.

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Tiffany & Co’s market cap is currently $10.24B and has a P/E ratio of 23.47. The company has a Price to Book ratio of 3.40.

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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.