Signet Jewelers price target lowered to $55 from $65 at Telsey Advisory

Telsey Advisory analyst Dana Telsey lowered the firm’s price target on Signet Jewelers (SIG) to $55 from $65 and keeps a Market Perform rating on the shares. The company’s holiday sales and Q4 guidance reduction were disappointing, especially since this comes after most other retailers preannounced better-than-expected or in-line holiday sales, the analyst tells investors. The firm remains cautious on the uncertain macro environment and its impact on the company’s mass consumer.