Tiffany Is Bank of America's Valentine
Tiffany is upgraded to buy by Bank of America on its growth potential.
NEW YORK (
)-
Tiffany
(TIF) - Get Report
is feeling the love right before Valentine's Day, as it was upgraded by Bank of America to buy.
Bank of America said shares of Tiffany are down 15% since the jeweler reported strong holiday sales on Jan. 15.
"In our view, Tiffany has attractive growth opportunities through international square-footage growth and market-share gains, and has an opportunity to improve margins due to the lagged effect of lower product costs," Bank of America wrote.
-- Reported by Jeanine Poggi in New York.
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