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SIG

Signet Jewelers

$39.46

0.78 (2.02%)

06:58
03/20/18
03/20
06:58
03/20/18
06:58

Signet Jewelers price target lowered to $40 from $52 at JPMorgan

JPMorgan analyst Matthew Boss lowered his price target for Signet Jewelers to $40 saying the company's transitional investments will take time to pay dividends. The analyst sees the combination of negative traffic and fiscal 2019 store closures "weighing on the top-line profile" through at least fiscal 2020. Boss keeps a Neutral rating on Signet shares.

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SIG Signet Jewelers
$39.46

0.78 (2.02%)

03/15/18
RBCM
03/15/18
NO CHANGE
Target $38
RBCM
Sector Perform
Signet Jewelers price target lowered to $38 from $55 at RBC Capital
RBC Capital analyst Brian Tunick lowered his price target on Signet Jewelers to $38 and kept his Sector Perform rating after the company's disappointing FY19 guidance. Tunick notes that the outlook suggests ongoing declines in comps and margins even though the company offers some visibility into core profitability metrics along with a positive view of growth initiatives and cost savings outlined in the 'transformation' plan.
03/15/18
BUCK
03/15/18
NO CHANGE
Target $36
BUCK
Neutral
Signet Jewelers shares 'dead money,' says Buckingham
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.
03/15/18
03/15/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Signet Jewelers (SIG) downgraded to Hold from Buy at Needham with analyst Rick Patel saying "credit applications are in decline, an uptick in promotions hasn't resulted in better comps, and the assortment is a work in progress." 2. Expedia (EXPE) downgraded to Neutral from Outperform at Macquarie with analyst Matthew Brooks saying to "expect an ugly first quarter print," with EBITDA being the lowest since 2011 and does not expect additional spending going forward to generate the desired benefits. 3. TerraForm Power (TERP) downgraded to Sell from Neutral at Goldman Sachs with analyst Brian Lee saying he believes execution risk and below average growth could drive share underperformance over the next 12 months. 4. MercadoLibre (MELI) downgraded to Hold from Buy at Stifel with analyst Scott Devitt saying the injunction that protected MercadoLibre from Correios' shipping fee increase was lifted by the Sao Paulo Regional Federal Court until further deliberation by the Brazil Federal Court System. 5. Qorvo (QRVO) downgraded to Underperform from Neutral at BofA/Merrill with analyst Vivek Arya saying she believes Quorvo faces headwinds of a sluggish high-end smartphone market and increasing competitive risks in upcoming versions of the iPhone. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/20/18
BOFA
03/20/18
DOWNGRADE
BOFA
Neutral
Signet Jewelers downgraded to Neutral from Buy at BofA/Merrill

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