1206 ET - Signet Jewelers had a dull holiday shopping season, prompting the diamond seller to cut its quarterly outlook. UBS analysts say in a research note, though, that recent talks with management indicate its business is recovering. The analysts cite year-over-year increases across the company's core engagements and services segments, higher average prices across bridal and fashion, and improving margins across businesses. "While (Signet's) Q4 guidedown was mainly due to fashion jewelry assortment gaps, we believe this issue is fixable," they write. UBS analysts lower their price target 23% to $98, though they maintain their buy rating, stating they remain encouraged on the company's multi-year turnaround potential. Shares fall 2.5%. (connor.hart@wsj.com)
(END) Dow Jones Newswires
January 16, 2025 12:06 ET (17:06 GMT)
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