July 31, 2018 / 6:24 PM / a year 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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below