Signet Jewelers price target raised to $75 from $65 at BofA

BofA analyst Lorraine Hutchinson raised the firm’s price target on Signet Jewelers to $75 from $65 and keeps a Neutral rating on the shares after the company beat Q3 expectations and raised FY23 guidance to contemplate the beat, later holiday shopping than last year, and the Blue Nile contribution, offset by forex headwinds and continued pressure on the lower income consumer. She remains cautious on sales trends given the tougher macro backdrop and heavier promotional landscape, Hutchinson tells investors.