CLSA initiated coverage on Signet Jewelers SIG with an Outperform rating and an $87 target price. Analyst Rick Patel cites three key reasons for his positive rating:
- He sees the potential sale of Signet's credit portfolio or the company finding a potential partner as a potential catalyst for growth.
- The company's market share in a resilient industry.
- Zale-related synergy's margin tailwinds.
"We see Signet as a good long-term story with low expectations," said Patel, "which is why we lean positive, but we don't expect much near-term upside given the difficult backdrop."
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
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!
Already a member?Sign in