July 8, 2012 / 6:44 PM / in 6 years

Tiffany shares seen up after recent pullback: Barron's

(Reuters) - Shares in American jewelry company Tiffany (TIF.N) could rise following a recent pullback, Barron’s wrote in its July 9 edition.

Jewelry packaging from Tiffany & Co. is shown in this illustration photograph taken in Encinitas, California March 19, 2012. REUTERS/ Mike Blake

The target price for the luxury goods maker’s shares is $63, according to analysts at Canaccord Genuity, the financial weekly said.

Tiffany stock closed at $53.45 on Friday, down from close to $70 in early May.

Canaccord Genuity said the stock’s recent pullback has opened a window of opportunity in a company with significant global expansion opportunities, according to Barron’s.

Reporting By Scott DiSavino; Editing by Marguerita Choy

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