Wells Fargo analyst Ike Boruchow raised the firm’s price target on Signet Jewelers (SIG) to $75 from $70 and keeps an Equal Weight rating on the shares. The firm notes shares rallied after a Q1 comparable sales and gross margin beat, and positive quarter-to-date trends. Wells believes Signet is beginning to execute, but it remains sidelined given risk around a highly discretionary category in a volatile macro.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SIG:
- Signet Jewelers price target raised to $100 from $85 at Citi
- Balanced Outlook on Signet Jewelers: Hold Rating Amid Strategic Growth and Valuation Concerns
- Signet Jewelers Exceeds Expectations with Strong Q1 Results
- Signet Jewelers’ Earnings Call Highlights Growth and Challenges
- Signet Jewelers rises 12.1%