Cowen Downgrades Signet Jewelers (SIG) to Market Perform

September 13, 2016 6:24 AM EDT
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Price: $80.72 -0.06%

Rating Summary:
    17 Buy, 7 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Cowen downgraded Signet Jewelers (NYSE: SIG) from Outperform to Market Perform with a price target of $85.00 (from $96.00), citing a lack of catalysts and riskier near-term dynamics.

Analyst Oliver Chen commented, "SIG remains a leader in specialty jewelry space w/ steady long-term growth prospects. Valuation is cheap, but upside may be limited on volatile traffic/industry trends, credit sale uncertainty, 4Q-weighted risk & Jared. We lower to $85PT & cut EPS below guide/street. Upside risks: expectations now being reset & stock may rise on better vs. feared EPS."

For an analyst ratings summary and ratings history on Signet Jewelers click here. For more ratings news on Signet Jewelers click here.

Shares of Signet Jewelers closed at $78.54 yesterday.

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