Morgan Stanley Has Buy Rating On Tiffany (TIF)

Morgan Stanley Has Buy Rating On Tiffany (TIF) Morgan Stanley has a Buy rating and a $70 price target on shares of Tiffany TIF. In a note to clients, Morgan Stanley writes, "4Q results and 2011 guidance demonstrate the power of TIF's well-diversified global sales base. With some detail on sales trends in Japan following the earthquake and strong momentum in every other region, we reiterate our Overweight thesis: consistently strong sales performance, international expansion and an opportunity to nearly double the US store base should drive 13-15% annual EPS growth. We see 3-year earnings power of $4.40-4.60 and are buyers at current levels, noting 16% upside to our $70 price target." Shares of TIF gained $2.93 yesterday to close at $60.22, a gain of 5.1%.