Citi says Signet Jewelers reported a Q2 earnings beat and indicated fashion is performing better than its initial expectations, which has helped offset a slower recovery in engagements. It was a “better than feared” quarter with no cut to guidance, which should help the stock “trade up meaningfully today,” the analyst tells investors in a research note. The firm keeps a Buy rating on the shares with a $119 price target. Signet Jewelers in early trading is up 12% to $87.68.
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