Signet Jewelers price target lowered to $105 from $125 at Wells Fargo

Wells Fargo analyst Ike Boruchow lowered the firm’s price target on Signet Jewelers to $105 from $125 and keeps an Overweight rating on the shares. The firm cut Q2/full year estimates and now sees a full year guide-down as likely from Signet Jewelers for Q2 EPS. Higher-level, while the macro pressures are evident, Well continues to see the Bull/Bear debate around Engagements vs. LCDs continuing in the near term.