Sterne Agee Begins Coverage of Tiffany & Co. with a "Neutral" Rating (TIF)

Sterne Agee Begins Coverage of Tiffany & Co. with a “Neutral” Rating (TIF)


Sterne Agee reported on Monday that it has initiated coverage on jeweler and specialty retailer, Tiffany & Co.(TIF).

The firm has began coverage of TIF with a “Neutral” rating and $68 price target. This price target suggests that the stock remain flat at its current price of $68.48.

An analyst from the firm commented, “while we acknowledge that macro pressures are currently impacting top-line results (at the same time margins are peaking and compares get tough), we still feel that the group is set up favorably from here, as: 1) the group has underperformed YTD (+2% vs. SPX +5%) and multiples have come down, 2) Street estimates have been reset lower (while most stocks are going up on bad news) as managements lay out conservative initial plans for 2013, 3) inventories are in solid shape, 4) this is seasonally the best time to own retail stocks (Mar/Apr best months historically) and 5) near-term weakness could potentially snap as refund checks hit the consumer’s wallet and the weather potentially turns warmer (driving pent-up demand).”

Tiffany & Co. shares were down 43 cents, or -0.62% during Monday morning trading. The stock has been mostly flat in the past year.

The Bottom Line
Shares of Tiffany & Co.(TIF) have a 1.87% yield, based on Monday morning’s price of $68.62.

Tiffany & Co.(TIF) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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