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Fly News Breaks for March 15, 2018
SIG
Mar 15, 2018 | 09:21 EDT
Buckingham analyst Scott Krasik said Signet Jewelers shares are "dead money" until the company can demonstrate that FY20 earnings will not be below FY19 levels due to P&L headwinds as the company evolves to an outsourced subprime credit model. Further, the analyst believes the fundamental outlook will be weighed down by typical retail headwinds and views risk/reward as modestly unfavorable. Krasik lowered Signet's price target to $36 from $57 and maintained a Neutral rating.
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