Signet Jewelers price target lowered to $65 from $87 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Signet Jewelers (SIG) to $65 from $87 and keeps a Market Perform rating on the shares. The company’s holiday sales and Q4 guidance reduction is disappointing, which comes as other retailers preannounced better-than-expected or in-line holiday sales, the analyst tells investors. This follows SIG’s softer Q3 results in early December, the firm adds. The firm remains cautious on the uncertain macro environment and its impact on the company’s mass consumer.