Deutsche Bank Raises Price Target on Signet Jewelers (SIG), Highly Over Looked
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Price: $90.57 --0%
Rating Summary:
13 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 19
Rating Summary:
13 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 19
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Deutsche Bank is reiterating its Buy rating on shares of Signet Jewelers (NYSE: SIG) as it increases its price target from $52 to $54.
The firm believes with strong sales at Christmas and mothers, and with DBe 30% EPS growth this year, shares are on too low of a multiple.
For Q1 the company reported solid numbers with strong same store sales and EPS up 50%. The firm notes that before its 2012 EPS estimate of $3.31 was 8% above the consensus, but now it raised it another 5% on stronger credit income and lower bad debt experience. Deutsche anticipates that the consensus will also increase.
Deutsche comments, "we assume .lower H2 comps based on 2 & 3 year comparisons, but the 4 & 5 year ones suggest comps could stay close to 10%, in which case there are even larger upgrades to come."
The firm is raising its FY12 and FY13 EPS estimates from $3.31 and $3.88 to $3.47 and $4.02. It also forecasts $3.646 billion in revenue in FY12 and $3.815 billion for FY13.
For more ratings news on Signet Jewelers click here and for the rating history of Signet Jewelers click here.
Shares of Signet Jewelers closed at $45.75 yesterday.
The firm believes with strong sales at Christmas and mothers, and with DBe 30% EPS growth this year, shares are on too low of a multiple.
For Q1 the company reported solid numbers with strong same store sales and EPS up 50%. The firm notes that before its 2012 EPS estimate of $3.31 was 8% above the consensus, but now it raised it another 5% on stronger credit income and lower bad debt experience. Deutsche anticipates that the consensus will also increase.
Deutsche comments, "we assume .lower H2 comps based on 2 & 3 year comparisons, but the 4 & 5 year ones suggest comps could stay close to 10%, in which case there are even larger upgrades to come."
The firm is raising its FY12 and FY13 EPS estimates from $3.31 and $3.88 to $3.47 and $4.02. It also forecasts $3.646 billion in revenue in FY12 and $3.815 billion for FY13.
For more ratings news on Signet Jewelers click here and for the rating history of Signet Jewelers click here.
Shares of Signet Jewelers closed at $45.75 yesterday.
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