Goldman Sachs Cuts Price Target, Estimates for Tiffany & Co. (TIF)

Jewelry retailer Tiffany & Co. ( TIF ) saw its earnings estimates and price target lowered on Tuesday by analysts at Goldman Sachs. The firm cut its estimates for TIF through 2012, citing its heavy Asian and European exposure. Goldman currently rates the stock as “Neutral,” and introduced a new $52 price target. Tiffany shares, which had closed at $46.62 on Monday, rose 28 cents, or +0.6%, in premarket trading Tuesday. The Bottom Line Shares of TIF have a dividend yield of 1.72%, based on last night’s closing stock price of $46.62. The stock has technical support in the $40-$42 price area. If the shares can firm up, we see overhead resistance around the $50-$52 price levels. We would remain on the sidelines for now. Tiffany & Co. ( TIF ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Goldman Sachs Cuts Price Target, Estimates for Tiffany & Co. (TIF)

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