Deutsche Bank Maintains “Hold” Rating on Tiffany & Co (TIF)

Deutsche Bank reported on Tuesday that it has reaffirmed a “Hold” rating on jewelry company, Tiffany & Co. (TIF).

The firm has maintained a “Hold” rating and $68.50 price target on TIF. This price target suggests that the stock remain flat at its current price at $68.83.

An analyst from the firm commented, “with the three downgrades during 2012 to January 13 guidance, and the final fine tuning on 10 January 2013 after the Holiday sales, we see limited scope for downside surprises at this stage. Indeed, after disappointing Holiday seasonal sales on 10 January, management guided FY EPS to the low-end of its $3.20-$3.40 range versus the Street at $3.26 at the time. Both DBe and consensus (Bloomberg) are now at $3.22 Gaap and $3.21 adj. This means an FY gross margin down 190bp to 57.1% (and Q4 gross margin down 110bp, an improvement over the 240 deterioration of the 9M but still below the original expectations, due among other things to mix with silver still underperforming).”

Tiffany & Co. shares were mostly flat during Tuesday morning trading. The stock has been mostly flat in the past year.

The Bottom Line
Shares of Tiffany & Co. (TIF) have a 1.86% yield, based on Tuesday morning’s price of $68.83.

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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