NEW YORK (TheStreet) -- Tiffany & Co. (TIF - Get Report)  shares are down 2.62% to $69.99 Tuesday morning after Citigroup downgraded the luxury jewelry and specialty retailer to "neutral" from "buy," and slashed its price target to $78 from $86.

For the holiday season, the company reported comps of -5%, under analysts' forecasts of flat.

Comps dropped even though there were "more newness and marketing around gift items under $500 and less of a tourism impact," according to the firm's note.

Analysts are doubtful that short-term trends would improve and believe a "change in strategy is needed, which could take some time and money to execute."

The company is scheduled to report its 2015 fourth quarter results on Friday before the market opens. Wall Street is looking for earnings of $1.41 a share on revenue of $1.22 billion.

Separately, TheStreet Ratings currently has a "Hold" rating on the stock with a letter grade of C+.

The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles' author.

You can view the full analysis from the report here: TIF