Jewelry retailer Tiffany & Co. (TIF) was upgraded to a "Buy" on Tuesday by analysts at Jesup & Lamont.
The analyst also set a $55 price target on TIF shares, which had closed at $47.41 U.S. on Monday.
Jesup noted that Tiffany is well-positioned for the impending return of luxury consumer spending.
Tiffany shares rose 54 cents U.S., or 1.1%, in premarket trading Tuesday.
The Bottom Line
The company has a dividend yield of 1.69%, based on last night's closing stock price of $47.41 U.S.
The stock has technical support in the $40-$42 U.S. price area. If the shares can firm up, there could be overhead resistance around the $50-$54 U.S. price levels. Many experts would remain on the sidelines for now.
Tiffany & Co. (TIF) is not recommended at this time, holding a Dividend.com DARS Rating of 3.4 out of five stars.
