Market Overview

UPDATE: Topeka Capital Initiates Coverage on Signet Jewelers on Attractive Valuation, Significant Upside

Share:
Related SIG
Signet Shares Fall 10% Following Earnings; Goldman Downgrades, Removes From Conviction Buy List
Benzinga's Top Downgrades
Week In Review: Apple-Led Stocks Rise Above Fed; Autos Hitch Ride; Oil Hits $50 (Investor's Business Daily)

In a report published Wednesday, Topeka Capital Markets analyst Dorothy S. Lakner initiated coverage on Signet Jewelers Ltd. (NYSE: SIG) with a Buy rating and $83.00 price target.

In the report, Topeka Capital Markets noted, “We are initiating coverage of SIG with a Buy rating and a PT of $83. We view SIG as a leader in bridal and branded jewelry. Its US chains in Kay and Jared, with strong customer service and credit biz to help customers with important purchases like bridal jewelry, stand to gain share as the US specialty jewelry market continues to consolidate. New UK management seems poised to turn there, with opportunity to double its OM over time. Valuation is attractive, below the group and 2- and 5-year highs.”

Signet Jewelers Ltd. closed on Tuesday at $72.04.

Latest Ratings for SIG

DateFirmActionFromTo
May 2016Goldman SachsDowngradesBuyNeutral
May 2016CitigroupMaintainsBuy
Mar 2016Goldman SachsMaintainsBuy

View More Analyst Ratings for SIG
View the Latest Analyst Ratings

Posted-In: Dorothy S. Lakner Topeka Capital MarketsAnalyst Color Initiation Analyst Ratings

 

Related Articles (SIG)

View Comments and Join the Discussion!