UPDATE: Deutsche Bank Upgrades Signet Jewelers Ahead of Tuesday Investor Day

In a report published Monday, Deutsche Bank analyst Gilles Errico upgraded the rating on Signet Jewelers Ltd. SIG from Hold to Buy, and raised the price target from $73.00t o $85.00. In the report, Deutsche Bank noted, “Signet will host an investor day on 8 October, which should refocus investors on its successful business model and should confirm Q3 guidance. Signet should deliver 12-13% EPS annual growth in the next three years, due to its average 3% outperformance of the US market, a strong gross margin (driven by the success of exclusive products and a commodities tailwind) and an improving credit portfolio. The sound cash generation should provide scope for further share buybacks and dividends.” Signet Jewelers Ltd. closed on Friday at $72.74.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorUpgradesAnalyst RatingsDeutsche BankGilles Errico
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!