Signet Jewelers price target raised to $110 from $100 at Telsey Advisory

Telsey Advisory analyst Dana Telsey raised the firm’s price target on Signet Jewelers to $110 from $100 and keeps a Market Perform rating on the shares. The company’s Q4 earnings miss was largely attributable to acquisition integration challenges, which led to fulfillment issues pressuring the second half of the holiday quarter, the analyst tells investors. Q1 and FY25 guidance were both below expectations, which reflects continued integration challenges and a slower than expected start to the category’s 3-year recovery, the firm adds. The firm remains cautious on the certain macro environment and its impact on the company’s consumer but raises its price target on the stock given the accretion from the preferred share redemption, Telsey concludes.