Topeka Initiates Coverage on Tiffany’s at “Buy” (TIF)
On Thursday, Topeka Capital Markets analysts gave some bullish commentary on fine jewelry maker Tiffany & Co. (TIF), as the company should be ready to recover after a disappointing 2012.
The analysts start TIF at “Buy” and see shares reaching $84. This valuation suggests a 16% upside to Wednesday’s closing price of $72.33.
Topeka Capital analyst Dorothy Lakner said, “After a disappointing 2012, we believe TIF’s sales and earnings are poised for recovery in 2013, beginning in 2Q13, which should benefit not only from a plethora of new product introductions, but also from plans to boost both high-end jewelry and high-margin silver sales.”
Tiffany shares were up $1.44, or +1.99%, during morning trading on Thursday. The stock is up +28.76% year-to-date.
The Bottom Line
Shares of Tiffany & Co. (TIF) have a dividend yield of 1.74% based on Thursday’s intraday trading price of $73.61 and the company’s annualized dividend payout of $1.28 per share.
Tiffany & Co. (TIF) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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