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Tiffany Is Bank of America's Valentine

Tiffany is upgraded to buy by Bank of America on its growth potential.

NEW YORK (

TheStreet

)-

Tiffany

(TIF) - Get Tiffany & Co. Report

is feeling the love right before Valentine's Day, as it was upgraded by Bank of America to buy.

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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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