TIF - Needham thinks Tiffany-LVMH deal will close early in 2021

Needham digs into Tiffany's (TIF) earnings report from yesterday. The firm says its biggest takeaways were the strong pace of Mainland China and e-commerce sales for Tiffany, as well as the gross margin improvement and the performance of new products. "We expect LVMH's acquisition of TIF for $131.50 to move forward and close in early ’21 as planned given: 1) both TIF and LVMH boards have approved the deal, 2) both parties have agreed to settle pending litigation, 3) all required regulatory approvals have been obtained, and 4) TIF’s business is on the mend," updates analyst Rick Patel. Still, Needham keeps a Hold rating on Tiffany due to the low visibility on what LVMH will do. Shares of Tiffany are up 0.14% in premarket trading after a flat day yesterday.Dig into details on Tiffany Q3 results

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Needham thinks Tiffany-LVMH deal will close early in 2021