Soleil Securities Initiates Coverage on Signet Jewelers Ltd (SIG) with a Buy

June 9, 2009 8:11 AM EDT

Soleil Securities initiates coverage on Signet Jewelers Ltd (NYSE: SIG) with a Buy. Price target $25.

Soleil analyst says, "In our opinion, one of the most exciting consolidation plays in the specialty retail sector and we believe SIG is poised to sharply accelerate sales and earnings growth as the economy begins to recover. The recent moves to re-domicile in Bermuda and switch its primary listing to the New York Stock Exchange should improve visibility and enhance investor awareness of the growth opportunity."

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.

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