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.
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