Saturday, September 03, 2005

Coverage Initiated on Tifany's (TIF)

Tiffany's is getting excited about China.

So now we're excited about Tifany's.

As David Jackson recently noted, " disposable income grows and the exchange of diamonds and jewelry during wedding ceremonies becomes more commonplace in China retailers are taking aim at the market."

During a recent conference call, VPs confessed they are unhappy that "our two stores there still represent a very small part of Asia Pacific sales."

I like the sound of that.

We're intiating coverage on TIF with a Hold Rating and a $41 price target

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