July 31, 2018 / 6:24 PM / 3 months ago

BUZZ-Instinet reduces Signet Jewelers, Acushnet Holdings to 'hold'

** Instinet downgrades Signet Jewelers and Acushnet Holdings to “neutral” from “buy” as they hit broker’s PTs

** With SIG shares >40 pct since Q1 EPS and Q4 EPS expected to represent >100 pct of the FY EPS forecast, shares appear fairly valued at current levels - Instinet

** Brokerage continues to recognize GOLF’s brand equity and expects its leadership position to persist, however with recent multiple expansion, brokerage moves to the sidelines on valuation

** Brokerage flags valuation concerns for Under Armour , Canada Goose Holdings as they both approach $10 bln valuations despite a meaningfully lower profit potential at UA and revenues at only a fraction of these levels for GOOS

** Sees opportunities in Amazon, BJ’s Wholesale and Nordstrom

** S&P 500 consumer discretionary sector up 12.8 pct YTD (Reporting by Medha Singh in Bengaluru)

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