Tiffany & Co. Stock Upgraded: What You Need to Know

Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...

Tiffany & Co. (NYSE: TIF) reported its fiscal Q3 2017 earnings early Wednesday morning, sparking an immediate 1.6% sell-off in the shares. By the end of Thursday, however, the negative sentiment had already reversed, and Tiffany stock was trading back above where it was pre-earnings.

Which reaction to Tiffany's earnings was the right one: Selling it or buying it? Well, according to the analysts at KeyBanc, it's the latter. This morning, KeyBanc upgraded shares of Tiffany to overweight.

Source: Fool.com