Tiffany & Co. (TIF) PT Lowered to $102 at Cowen as Stocks Trade down Following 1Q

Cowen lowered its price target on Tiffany & Co. (NYSE: TIF) to $102.00 (from $107.00) while maintaining a Outperform rating. The company's stock is down ~-8% following the 1Q print given weaker-than-anticipated comps at -2%, below Street's +1.6%, with trends decelerating from 4Q on a 1-yr & 2-yr stack.

Analyst Oliver Chen continues to believe that the iconic nature of the Tiffany brand, an unparalleled diamond supply chain, customer trust, and a long-standing heritage can protect TIF from Amazon. Chen also believes that new executive and creative management at TIF are catalysts for change, margin enhancement, and digital restructuring.

You May Also Be Interested In

• Adeptus Biotechnologies Corp. (ADPT) PT Raised to $34 at BTIG
• Shift4 Payments (FOUR) PT Lowered to $56 at StoneX as Iran War Impacts Revenues
• BofA Securities Starts Ather Energy Ltd (ATHERENE:IN) at Buy