Signet Jewelers (SIG) PT Lowered to $128 at UBS

UBS analyst Mauricio Serna lowered the price target on Signet Jewelers (NYSE: SIG) to $128.00 (from $134.00) while maintaining a Buy rating.

The analyst commented, "SIG's FY25 (CY24) guidance disappointed the market and its stock dropped 12.1% on this news vs. the S&P 500's +0.9% move (link). While this outlook indicates its topline recovery will be more gradual than previously anticipated, we continue to believe SIG's self-help initiatives should drive solid long-term growth. Importantly, SIG's 4Q report reinforces our view it is positioning to gain share and deliver sales growth outperformance, especially as its bridal business turns. We forecast a 9% 5-yr. EPS CAGR and expect EPS beats over the NTM to catalyze the stock towards our $128 PT."

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