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Fly News Breaks for January 18, 2019
SIG
Jan 18, 2019 | 08:01 EDT
Citi analyst Paul Lejuez downgraded Signet Jewelers to Sell from Neutral and cut his price target for the shares to $20 from $41. In what was one of the strongest years from the consumer since the recession, Signet's comps and margins have been under pressure, Lejuez tells investors in a research note. The analyst now believes Signet's earnings power is "even lower than we originally thought and what's currently being priced in." Further, Signet is one of the stocks most vulnerable in an economic slowdown, adds Lejuez. He sees further share downside despite yesterday's pullback.
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