Analysts suggest a “buy” for TIF
Of the 28 analysts providing recommendations on Tiffany (TIF) stock, 16 analysts maintain a “buy” rating, 11 analysts suggest a “hold,” and one analyst has a “sell” rating. Analysts have a consensus target price of $141.08 per share on TIF stock, which indicates an upside of 12.3% based on its closing price of $125.59 on September 24.
Analysts expect Tiffany’s sales and earnings to continue to grow at a brisk pace in the near term. New designs, in-store initiatives, marketing, and higher customer spending are expected to drive the company’s top line. Meanwhile, lower rough diamond acquisition costs, improved mix, cost savings from supply-chain reinvention, the decline in the effective tax rate, and share buybacks are likely to drive Tiffany’s bottom line. However, high valuation and adverse currency rates could remain a drag.
Analysts maintain a “hold” on SIG
Among 11 analysts covering Signet Jewelers stock, ten analysts suggest a “hold,” and one analyst has a “sell” rating. Analysts have a consensus target price of $65.25 per share on SIG stock, which is roughly on par with its closing price on September 24.
Signet Jewelers’ improving underlying sales and new assortments are expected to drive its sales. However, its bottom line is projected to see a YoY (year-over-year) decline as operational issues could continue to hurt the company.