Tiffany & Co. (TIF).
The very name inspires images of jewels, and all the accouterments�of a well-furnished person, and house.
On Wall Street, the stock�inspires visions of future gains as consumer spending is now widely�expected to begin to increase.
Deutsche Bank is telling clients today that its analyst, Francesca�Di Pasquantonio, has initiated coverage of Tiffany with a Buy�rating and a $58 price target.
“We believe Tiffany fits well within�our luxury sector view: as a leading brand with a strong heritage�and distribution, strong balance sheet, proactive approach to�costs, and strong management, TIffany has not only weathered the�past 18-24 months well, but is also set to benefit from the ongoing�macroeconomic improvement, market share gains, from US capacity�withdrawal and growth opportunities from increased�internationalization,” according to Deutsche Bank’s U.S. trading�focus note sent to clients.
The wind may indeed be at Tiffany’s back. The stock is up 19% this�year, and analysts are increasing their earnings estimates.
Previously: Coach Takes a First Class Trip to the Sky, April 15, 2010.
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