Citigroup Upgrades Signet Jewelers to Buy, Raises Price Target to $119
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Paul Lejuez has upgraded Signet Jewelers (NYSE:SIG) from Neutral to Buy and increased the price target from $93 to $119. This upgrade reflects a positive outlook on the company's stock, suggesting potential upside from its current trading level.
December 06, 2023 | 2:42 pm
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POSITIVE IMPACT
Signet Jewelers has been upgraded by Citigroup from Neutral to Buy, with a raised price target from $93 to $119, indicating a bullish stance on the stock's future performance.
The upgrade by Citigroup is a strong positive signal to the market, often leading to increased investor confidence and a potential rise in the stock price in the short term. The substantial increase in the price target suggests that Citigroup sees significant growth potential or undervaluation at the current price levels.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100