jewelry company Tiffany & Co, which is due to lower material costs and improved sales of silver products, which will increase the profit margin, Rapaport reports.
Sterne Agee retained its Tiffany rating on a "neutral" level, but the company's earnings per share estimate was raised from $ 3.46 to $ 3.95 to $ 3.50 to $ 4. In addition, Sterne Agee announced an increase in the forecast for Tiffany shares to $ 86 per share. Following the trading session on the New York Stock Exchange on August 14, Tiffany shares were valued at $ 81.60.
According to analysts, the factors restraining the growth of the gross profit margin of Tiffany in 2012 will be overcome this year due to a reduction in raw material costs and the ability of the retailer to raise prices for final products, as well as by improving the sales of silver products.