Soleil Securities Downgrades Signet Jewelers Ltd (SIG) to Hold; Valuation Call
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Soleil Securities downgrades Signet Jewelers Ltd (NYSE: SIG) from Buy to Hold. Price target $25.
Soleil analyst says, "Conclusion: SIG rating change based upon price appreciation; investment thesis remains intact...Q2 earnings expected to be in line with forecast of $0.23 vs. $0.35; will be reported tomorrow (Wednesday) consolidation benefits remain the long-term opportunity with potential to restore historic margins to low teens...not enough new data to warrant price target or estimate change at this point in fiscal year."
To see more analyst ratings on SIG Click Here.
Signet Jewelers Limited (Signet), formerly Signet Group plc, is a specialty retail jeweler, with stores in the United States, United Kingdom, Republic of Ireland and Channel Islands. In the United States, as of January 31, 2009, Signet operated 1,401 stores in 50 states.
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