Deutsche Bank Upgrades Tiffany Stock
Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...
Monday is looking like a great day to own shares of Tiffany & Co. (NYSE: TIF) -- but perhaps not a great day to buy shares of Tiffany.
The news broke early this morning: "Tiffany & Co. ... today confirmed it has received an unsolicited, non-binding proposal from LVMH Moet Hennessy -- Louis Vuitton to acquire Tiffany for $120 per share in cash." The stock is up more than 30% already in response to Tiffany's press release. But according to one analyst, the shares could go up even more, with German investment banker Deutsche Bank positing a $130 share price in an upgrade this morning.
Source Fool.com
