New Coverage for Tiffany, Urban Outfitters Bombarded with Downgrades

Tiffany (TIF) is initiated, Urban Outfitters (URBN) is hit with a slew of downgrades and Hilton (HLT) gets an upgrade in Friday's Analysts' Actions. Tiffany is now being covered at Barclays with an EQUAL WEIGHT rating. The price target is set at $89 a share. The analysts there are expecting global high-end consumers will become more interested in the brand but said current global trends are the reason behind their commitment fears on the category. Downgrades all around for Urban Outfitters. The retailer was cut at Goldman Sachs and Janney to NEUTRAL from BUY. Morgan Stanley also lowered its rating for Urban to EQUAL WEIGHT from OVERWEIGHT. All are citing lower sales and margins for the revision. Hilton Worldwide was upgraded to BUY from NEUTRAL at SunTrust. The firm said it raised its rating based on recent pullback in shares and its belief the hotel company will report strong growth next year helped by the sale of the Waldorf Astoria. The firm's price target for the stock is $26.