Wells Fargo Raises Price Target for Signet Jewelers (NYSE: SIG) Following Strong Q2 Results

• Wells Fargo maintained an Equal Weight rating on Signet Jewelers (NYSE: SIG) while raising its price target to $100 from $90.
• Signet Jewelers (NYSE: SIG) shares surged approximately 20% after adjusted earnings per share (EPS) of $2.19 exceeded analyst expectations.
• The jewelry retailer reported 2.2% same-store sales growth and raised its fiscal 2027 adjusted EPS guidance to $10.45–$12.15.

On September 9, 2026, Wells Fargo analyst Ike Boruchow raised the price target for Signet Jewelers (NYSE: SIG) to $100 from $90 while maintaining an Equal Weight rating. The original references to a “Perform” grade and “Hold” action were inaccurate. An Equal Weight rating generally indicates that the analyst expects the stock to perform in line with comparable companies or its industry.

The new price target was close to Signet’s trading price of approximately $100.22 at the time of the analyst update. The increase followed the company’s stronger-than-expected fiscal second-quarter 2027 results. 

Signet Jewelers (NYSE: SIG) reported adjusted EPS of $2.19, up 36% from the previous year and well above the approximately $1.74 expected by analysts. Adjusted operating income reached $107.2 million, exceeding the $89.7 million estimate.

Quarterly revenue was approximately $1.53 billion, nearly unchanged from $1.54 billion a year earlier and in line with analyst expectations. Same-store sales increased 2.2%, indicating growth across locations that were open during both reporting periods. The company’s gross margin also improved to approximately 39.4%.

Following the results, Signet raised its fiscal 2027 adjusted EPS guidance to $10.45–$12.15, up from its previous range of $9.20–$11.00. It maintained its full-year revenue forecast of $6.7 billion–$6.9 billion and revised its same-store sales outlook to between flat and 2.5% growth. 

Management said the higher earnings forecast reflects strong year-to-date operating performance, additional share repurchases, refunds of previously paid tariffs, and improved terms under a new consumer credit agreement. Signet also announced a $125 million accelerated share-repurchase program.

The strong report sent Signet Jewelers (NYSE: SIG) shares approximately 20% higher, reflecting investor optimism about improving margins, same-store sales growth, and the company’s increased earnings outlook.