Signet Jewelers price target raised to $100 from $85 at Citi

Citi analyst Paul Lejuez raised the firm’s price target on Signet Jewelers (SIG) to $100 from $85 and keeps a Buy rating on the shares following the Q1 report. The company appears to be achieving early success on its strategy to increase its lab-grown diamond fashion offering, which grew 60% in Q1, the analyst tells investors in a research note. The firm says management did not build a benefit into guidance lapping a fashion miss, which makes its fiscal 2025 outlook “appear conservative.” Citi believes the stock’s risk/reward is “very attractive.”