Tiffany Rating Doesn’t Sparkle For Retail/Luxury ETFs
December 5th at 11:00am by Tom Lydon
Could there be fewer retail exchange traded funds (ETFs) in little blue boxes this year? The Tiffany & Co. (TIF) rating fell Tuesday, so anticipation of these blue boxes may have a few of us feeling, well, blue. This is not a good sign right before the holidays, and it means a bit of caution for retail ETFs. Especially the luxury focused fund, Claymore/Robb Report Global Luxury (ROB), in which Tiffany makes up 1.5% of the holdings. It is up 2.8% since its launch the end of July.
Tiffany has been praised for significant gains in the past nine months, however, a number of catalysts have played out. Associated Press reports that Banc of America downgraded Tiffany to a "Neutral" from a "buy". The $51 price target was kept, although retailing is down around 20% this year. Other ETFs and their year-to-date performance who may experience a slow season include:
