By  on September 22, 2017

Goldman Sachs & Co. applauded Roger Farah’s ascent to chairman at Tiffany & Co., but noted the company still has plenty of work to do, particularly on its high-end offering, and downgraded its stock.

Lindsay Drucker Mann, equity analyst at the bank, reduced her rating on the stock to neutral from buy and cut her 12-month target price to $94 from $106.

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