Mizuho Securities Starts Tiffany & Co. (TIF) at Buy

Mizuho Securities initiates coverage on Tiffany & Co. (NYSE: TIF) with a Buy rating and a price target of $106.00.

Analyst Betty Chen commented, "We believe the iconic American luxury brand is well-positioned given: (1) growing global demand in branded jewelry with ample opportunity to expand in Asia, (2) product innovations with a well-balanced assortment, (3) strategies to enhance in-store experience and productivity, and (4) strong pricing power and input cost tailwinds. We believe management’s focus on becoming one of the most revered and esteemed luxury retailers (rather than the largest) will reinforce its premium standing and consumer preference for exclusivity, status, and quality."

For an analyst ratings summary and ratings history on Tiffany & Co. click here. For more ratings news on Tiffany & Co. click here.

Shares of Tiffany & Co. closed at $90.82 yesterday.

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