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Fly News Breaks for December 7, 2018
SIG
Dec 7, 2018 | 09:22 EDT
RBC Capital analyst Brian Tunick lowered his price target on Signet Jewelers to $46 and kept his Sector Perform rating after its Q3 results. The analyst notes that while the earnings and revenues were in-line, he was disappointed by the company's cut in Q4 EBIT outlook amid increasingly more promotional environment that is weighing on its margins. Tunick adds that his new price target models a 12-times forward earnings multiple and reflects a "more cautious view on the earnings recovery given limited visibility into sales and margins."
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