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.
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