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Tiffany: Credit Suisse downgrades to 'neutral'

(CercleFinance.com) - Credit Suisse downgraded its rating on the Tiffany stock from "outperform" to "neutral," while maintaining a target price of 135 dollars, following the upmarket jeweler's "disappointing" third-quarter results.

The quarterly report supports the broker's view that the proposed LVMH deal is "likely the best path" for the New York-based company, it said.

Joining a larger organization like LVMH's jewelry division should let Tiffany focus on making overdue investments to reposition for significantly improved sales and margins for the long term, Credit Suisse noted.

The primary risk from here is whether Tiffany shareholders accept the proposed deal price, it added.

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