SIG - Signet Jewelers' Engagement Sales Set to Rebound In Q4: Analyst Asserts | Benzinga
Telsey Advisory Group analyst Dana Telsey reiterated the Market Perform rating on Signet Jewelers Limited (NYSE: SIG), raising the price target to $82 from $71.
As the company begins to lap the three years since the onset of COVID-19, engagement sales are expected to start recovering towards the end of FY24, according to Telsey.
Looking ahead to the back half, SIG believes that Q3 will represent the trough for engagements, while Q4 is expected to kick off the 3-year engagement recovery period (although sales are planned down on a YoY basis), ...