Signet Jewelers price target lowered to $80 from $95 at Wells Fargo

Wells Fargo analyst Ike Boruchow lowered the firm’s price target on Signet Jewelers (SIG) to $80 from $95 and keeps an Overweight rating on the shares. The firm notes shares rallied after a Q4 comparable sales and SG&A beat and commentary on positive comps year-to-date. Wells remains optimistic on Signet Jewelers as fashion/bridal continue to move the right direction and a new growth strategy plan is laid out.