Fly News Breaks for January 17, 2020
Jan 17, 2020 | 05:36 EDT
Citi analyst Paul Lejuez raised his price target for Signet Jewelers to $22 from $13 while keeping a Sell rating on the shares. The company posted good holiday results with the upside driven by product newness rather than promotions, Lejuez tells investors in a research note. However, the report does not change the analyst's view that Signet is "structurally challenged," having too many mall-based stores "in a world where mall-traffic continues to decline mid-single digits."
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