The firm also increased its 2014 full-year earnings forecast to $4.32 a share from $4.30 a share and upped its fiscal 2015 full-year estimates to $4.82 a share from $4.75 a share.
Sterne Agee said it raised its estimates on the luxury jewelry company as it believes Tiffany's unit sales will continue to improve in the U.S.
Sterne Agee has a "buy" rating and $110 price target on Tiffany stock.
Separately, TheStreet Ratings team rates TIFFANY & CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate TIFFANY & CO (TIF) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."
Highlights from the analysis by TheStreet Ratings Team goes as follows: