Signa Sports downgraded to Hold from Buy at Jefferies

Jefferies analyst Randal Konik downgraded Signa Sports to Hold from Buy with a price target of $4, down from $8. The analyst sees an "uncertain path forward" for Signa due to macro challenges and category-specific softness stemming from the COVID "unwind." Earnings revisions have skewed materially negative over the past year, and it is prudent to move to the sidelines until greater model visibility emerges, the analyst tells investors in a research note.