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Stifel Nicolaus Raises Tiffany to 'Buy' With a Target Price of $92

Jul 15, 2013 3:48 PM   By Jeff Miller
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RAPAPORT... David Schick of Stifel Nicolaus raised Tiffany & Co.'s rating to "buy" from "hold" and set the target price at $92 per share. The news sent Tiffany's shares higher on the New York Stock Exchange to $80.31 shortly before 3 p.m. EDT. Tiffany's shares are up about 51 percent year on year.

The analyst concluded that Tiffany's comparable-store sales should rise given the dramatic increase in U.S. consumer wealth and economic confidence so far this year. He also believed the retailer will benefit from its colored gemstone jewelry collection.

Stifel Nicolaus' target price was the highest of brokerages summarizing the retailer. According to Thomson/First Call,  Tiffany & Co.'s  mean target price was $80.76 per share, median price of $83 and a low target of $54.

Tags: analysts, Jeff Miller, price target, Tiffany & CO.
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