Buckingham analyst Scott Krasik downgraded Signet Jewelers to Neutral from Buy and lowered its price target to $65 from $86 ahead of Q1 results this week. The analyst is increasingly cautious over Signet's sales trends over the next 12 months and the impact from heavy mall exposure and expects Q1 same store sales to be at the very low end of what other mall based retailers report. Krasik thinks results will reinforce the bear thesis of inflated sales given aggressive credit standards, continued share losses, fewer margin levers, and increasing leverage.