S&P Capital IQ Reiterates its STRONG BUY on Tiffany & Co, Target Price Raised

October 28 00:00 2011

New York, October 28 (RainbowNewsLine.com) – Analyst Jason Asaeda of S&P Capital IQ maintains his STRONG BUY rating on the shares of Tiffany & Co (NYSE: TIF). The target price has been raised from $87 to $90.

Analyst Jason Asaeda, in a research note published yesterday, mentions that the company is well positioned for strong holiday season sales. Tiffany & Co is benefitting from the returning of luxury shoppers in US, its largest market, and growing number of customers in Asia and Europe where the brand awareness among consumers is increasing, the analyst says. The multi-channel distribution of the brand is viewed as one of the competitive advantages in a large and fragmented industry, the analyst adds.  The EPS estimates for 2011 and 2012 have been maintained at $3.70 and $4.15, respectively.