Signet Jewelers price target lowered to $128 from $134 at UBS

UBS lowered the firm’s price target on Signet Jewelers to $128 from $134 and keeps a Buy rating on the shares. Signet’s guidance disappointed the market and while the outlook indicates its topline recovery will be more gradual than previously anticipated, the firm continues to believe Signet’s self-help initiatives should drive solid long-term growth, the analyst tells investors in a research note.