Hot or Not, Stock Market Edition: 01/23/2026

Happy Friday! Here are some interesting stock stories you should know: 

• Hot: Signet Jewelers (SIG) sparkles; gold’s continued rally benefits Gold Fields Limited (GFI) 
• Not: AT&T (T) gets a downgrade; we don’t believe the bounce on Extra Space Storage (EXR)

P.S. For more stocks making moves, check out our Zen Ratings Upgrades & Downgrades screener.

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🔥 HOT: Jewelry retail powerhouse Signet Jewelers (SIG) is sparkling after posting a remarkable turnaround, down about 10% over three months but showing strong buy signals from analysts who see the pullback as a buying opportunity. The  stock has recently caught the attention of Wall Street with multiple Strong Buy ratings and price targets pointing to potential upside of nearly 60% in the coming year. (See SIG price targets here.) Our Zen Ratings system awards SIG a Strong Buy rating with standout B grades for Value and C grades for Momentum and Financials, ranking it #1 out of 41 in the Luxury industry. Despite recent earnings declining approximately 69% year-over-year, analysts remain bullish on the company's transformation. Signet operates iconic brands including Kay Jewelers, Zales, and Jared, giving it unmatched scale in North American jewelry retail. The company has been aggressively modernizing its digital presence and streamlining operations, which should position it well for improved margins ahead. With insider activity showing recent purchases and the luxury goods sector demonstrating resilience, SIG offers a contrarian play on consumer discretionary spending. 

🥶 NOT: AT&T (T) has long been a go-to for income-focused portfolios, but recent years have seen the company grapple with heavy debt loads, competitive pressures in wireless, and the strategic pivot away from media assets. Telecom stocks have faced margin compression as 5G buildout costs mount and subscriber growth slows. AT&T's dividend, while still attractive on a yield basis, has been under scrutiny given the company's leverage and free cash flow dynamics. The weak prospects are further revealed by its recent downgrade in the Zen Ratings system from a B (Buy) to a C (Hold), signaling it as an average pick at best. The Component Grades offer more clues: T earns Ds for Growth and Sentiment, and only middling Cs in most other categories (Bright spot: Safety earns a B). Considering the significant headwinds and abundance of higher-growth opportunities elsewhere (such as here), T remains a Hold for now. 

🔥 HOT: South African gold mining giant Gold Fields Limited (GFI) has surged over 30% in the past three months, riding a powerful wave of precious metal momentum. Related: The company just reported stellar earnings growth of approximately 75% year-over-year, (significantly outpacing both the gold industry average). Analysts are psyched, too: price targets suggest as much as 26% additional upside potential. Our Zen Ratings system gives GFI a Strong Buy rating with impressive B grades across Value, Growth, and Momentum. The company ranks as the top-rated stock (#1 out of 51) in the Gold industry. Gold Fields' positioning looks particularly attractive as it combines operational excellence with exposure to gold's safe-haven appeal during uncertain times. With revenue growth accelerating and earnings momentum building, GFI appears well-positioned to benefit from continued strength in gold prices.  

🥶 NOT: Self-storage REIT Extra Space Storage (EXR) has had a nice 10%+ bounce in the past month, but longer-term picture is less rosy: the stock is down 4% over the past year, and it was recently downgraded to a D (Sell) Zen Rating. The self-storage sector has been under pressure as pandemic-driven demand normalizes and new supply floods certain markets. Extra Space is scheduled to report Q4 earnings on February 19, and analysts expect only marginal core FFO growth—hardly the stuff of breakout momentum. Adding insult to injury, it ranks dead last in its Industrial REIT peer group, ranking 16th out of 16 (Industry Grade: F). That's a red flag. The company's fundamentals tell a tough story. EXR earns D grades for Growth and an F in SentimentEven its stronger categories like Value and Financials only manage C grades. 

The recent short-term rally might tempt bottom-fishers, but the underlying trends are concerning. Poor industry positioning, weak growth metrics, and a bottom-tier Zen Rating suggest this is a value trap rather than a turnaround opportunity.  

What to Do Next?

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