Signet Jewelers Stock Soars to Best Week in Over a Year

Signet Jewelers Corp.'s (SIG) stock is on track for its strongest week in more than a year, thanks to analysts' optimistic views after the company's Q2 earnings report.

The firm reported $1.53 billion in revenue, in line with estimates, and adjusted EPS of $2.19, which beat analyst forecasts by 25 cents.

Goldman Sachs raised its price target on Signet to $109 from $96, citing continued comparable-sales growth and a 6% increase in average selling prices.

Telsey Advisory Group also increased its price target to $105 from $96, with Dana Telsey saying that Signet's product assortment, operating execution, and customer experience are strengthening.