Analysts: Tiffany & Co. Will Benefit from New Products and 3 More Research Notes to Check Out
Tiffany & Co. (NYSE:TIF): After Tiffany & Co. reported stronger-than-expected results and raised its guidance, Stiefel expects the company to benefit from the launch of a number of new products going forward and to continue benefiting from strong spending by wealthy Americans in the second half of the year. It keeps a $92 price target and a Buy rating on the shares.
Deckers Outdoor (NASDAQ:DECK): Piper Jaffray reports that Web search trends for Deckers have increased 39 percent in the third quarter versus the quarter before, and a continuation of current search trends would suggest that Deckers will report significantly higher-than-expected third-quarter comparative sales, according to the firm. Piper thinks the company’s operating margins can increase and it reiterates an Outperform rating on the stock.
Dendreon (NASDAQ:DNDN): RBC Capital says that Dendreon is burning through cash and needs to refinance $620 million in debt, and that any equity raise would be highly dilutive. The analyst said that one solution is an acquisition by potential suitors AstraZeneca or Astella, but only assigns a 15-20 percent probability at $4-plus per share. The firm views an asset sale or partnership for European Union rights as one of the few remaining opportunities and has lowered its price target to $3 from $5. It maintains its Sector Perform rating.
Avago (NASDAQ:AVGO): Deutsche Bank says that Avago delivered strong results and guidance, and sees numerous product cycles that should accelerate in 2014. The analyst expects Avago’s discounted valuation versus its peers to shrink and reiterates its Buy rating and $45 price target.