UPDATE: Goldman Sachs Maintains Buy rating on Signet Jewelers Citing Profitability

In a report published on Thursday, Goldman Sachs analyst Rob Joyce maintained a Buy Rating on Signet Jewelers SIG and increased the price target to $89.80 from $77.91. In the report, Goldman Sachs noted, "Further, Signet's recent announcement of a $350 mn share buyback points to a continued focus on balance sheet management. While the recently acquired Ultra business's 1Q14 profitability was lower than our expectation, Signet's strong positioning means we believe it will be able to continue to generate improving returns and strong EBITDAR growth in the medium term, with further potential upside from a US consumer recovery. Signet Jewelers closed on Wednesday at $68.16.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst Ratings
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!