Signet Jewelers price target lowered to $100 from $105 at Telsey Advisory

Telsey Advisory analyst Dana Telsey lowered the firm’s price target on Signet Jewelers to $100 from $105 and keeps a Market Perform rating on the shares. The company’s Q4 earnings beat was largely driven below the operating line as weaker sales and greater expense deleverage offset gross margin improvement, resulting in its operating income missing consensus, the analyst tells investors. Further, Q1 and FY25 guidance was below expectations, the firm adds. Overall, Telsey remains cautious in the uncertain micro environment and its impact on the company’s consumer base.