Signet Jewelers price target raised to $89 from $85 at UBS

UBS raised the firm’s price target on Signet Jewelers (SIG) to $89 from $85 and keeps a Buy rating on the shares. Signet remains an attractive turnaround stock, having implemented initiatives to improve its omnichannel capabilities, enhance its bridal banners offering, introduce fashion newness, and strengthen its supply chain, the analyst tells investors in a research note. These factors should drive sustainable sales growth, and UBS forecasts a 9% five-year EPS compound annual growth rate.