Wall Street suggests a “buy” on Tiffany stock

Most analysts maintain a “buy” rating on Tiffany (TIF) stock despite the weakness in sales and earnings. Tiffany’s bottom line is likely to remain under pressure in the first half of fiscal 2019, reflecting soft sales and planned investments in growth initiatives. However, management expects its bottom line to resume growth in the second half of the fiscal year.

Tiffany’s net sales are expected to stay low in the first half of fiscal 2019, reflecting tough year-over-year comparisons, the strengthening US dollar, and lower tourist spending. However, new design launches, omnichannel offerings, and growth investments are expected to support sales in the long run.

What Wall Street Recommends for Tiffany and Signet

Sign up for Bagels & Stox, our witty take on the top market and investment news, straight to your inbox! Whether you’re a serious investor or just want to be informed, Bagels & Stox will be your favorite email.

Among the 28 analysts covering the stock, 17 suggest a “buy,” and 11 analysts have a “hold” recommendation. Analysts have a target price of $112.26 per share on TIF, which implies an upside potential of 14.9% based on its closing price of $97.68 on May 13.

Analysts suggest a “hold” for Signet stock

The majority of analysts recommend a “hold” on Signet Jewelers (SIG) stock. Signet’s net sales and earnings are expected to decline in fiscal 2020, reflecting lower transactions, the promotional environment, and higher credit costs. Persisting sales and margin headwinds keep analysts on the sidelines.

Of the ten analysts covering the stock, nine recommend a “hold,” and one analyst has a “sell” rating. Analysts have a consensus target price of $26.83 per share on SIG, which implies a potential upside of 33.1% based on its closing price of $20.16 on May 13.

Latest articles

Today, Slack (WORK) opened 4.5% higher after MKM Partners analyst Rohit Kulkarni gave Slack stock a "buy" rating with a target price of $40.

Pure Storage shares have risen more than 15% today. The company announced its second-quarter results after the markets closed on Wednesday.

Marijuana reform is central to Beto O’Rourke's 2020 presidential campaign—how could his agenda that affect the cannabis industry?

Nordstrom (JWN) stock was up 16% as of 11:50 AM today after it reported better-than-expected earnings for the second quarter of fiscal 2019.

Last month, four automakers, including Ford, made a voluntary deal with California to make cars cleaner and more fuel efficient. Trump isn't happy with the deal.

GameStop (GME) shares rose 8% in early market trading today. The company laid off about 120 employees as part of its restructuring process.