Zale stock rockets 28 percent Friday
wsielaff@nationaljeweler.com
Not to get our expectations out of proportion, but the indicators keep lining up in suggestion of an improving market.
After good news recently from Signet--parent of the Kay and Jared chains--and an upgrade by analysts of its stock from hold to buy, Zale followed suit last week. Analysts said the surge predicts that Zale will demonstrate similar strength to that shown by Signet when it reports earnings in coming weeks. Bank of America raised its outlook for Zale from neutral to buy and increased its target price for Zale shares to $5.
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