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, "...as 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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