UBS Boosts Price Target for Tiffany; Lower Diamond Costs Mean Better Margins (TIF)

Comment

Shutterstock photo

Jewelry retailer Tiffany & Co. ( TIF ) on Wednesday received some bullish commentary from analysts at UBS.

The firm boosted its price target for TIF to $82, suggesting a massive 32% upside to the stock's Tuesday closing price of $62.11.

UBS noted its bullish view was based on lower diamond costs, which could drive significant margin upside for the company.

Tiffany shares were mostly flat in premarket trading Wednesday.

The Bottom Line
Shares of Tiffany & Co. ( TIF ) have a 2.06% dividend yield, based on last night's closing stock price of $62.11. The stock has technical support in the $55-$57 price area. If the shares can firm up, we see overhead resistance around the $65-$66 price levels.

Tiffany & Co. ( TIF ) is not recommended at this time, holding a Dividend.com 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 .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com



This article appears in: Investing , Stocks


More from Dividend.com







Dividend.com
Contributor:

Dividend.com

Dividends
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com