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Tiffany’s Price Target Raised at Morgan Stanley (TIF)

Jewelry retailer Tiffany & Co. ( TIF ) on Friday saw its price target boosted by analysts at Morgan Stanley, following its blockbuster Thursday earnings report.

The firm said it now expects TIF shares to reach $81, suggesting a nearly 7% upside to the stock's Thursday closing price of $76.04. Morgan Stanley maintained its "Overweight" rating on the stock and applauded the company's improving sales momentum.

Yesterday, Tiffany reported much-better-than-expected first quarter earnings and raised its full-year outlook, pushing its stock up more than 8.5%.

Tiffany shares were mostly flat in premarket trading Friday.

The Bottom Line

Shares of Tiffany's ( TIF ) have a 1.53% dividend yield, based on last night's closing stock price of $76.04. The stock has technical support in the $67-$70 price area. The shares are trading near all-time highs and have little overhead resistance.

Tiffany & Co. ( TIF ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 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.

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

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