Market Overview

UPDATE: Piper Jaffray Downgrades Fossil to Neutral on Uncertainty

Share:
Related FOSL
Pacific Crest On Wearables: Apple Watch's Next Wave Likely 'Lower-Function Devices,' Fossil May Have The Advantage
Best Stock Ideas Of February
The Vetr community has upgraded $FOSL to 3-Stars. (Vetr)

Piper Jaffray reduced its rating on Fossil (NASDAQ: FOSL) from Overweight to Neutral and lowered its price target from $128 to $76.

Piper Jaffray commented, "We are lowering our investment rating on FOSL shares in view of what appears to be continued murkiness tied to a deteriorating EU situation. Simply stated, much of FOSL's success was driven by a favorable global watch cycle against a backdrop of a lean infrastructure with an overall rise in discretionary spending. What we are facing in the quarters to come is increasing macro-economic uncertainty from about half of FOSL's revenue streams at a time when they are justifiably spending on infrastructure against a potentially slowing watch cycle."

Fossil closed at $68.33 on Monday.

Latest Ratings for FOSL

DateFirmActionFromTo
Mar 2016MacquarieDowngradesNeutralUnderperform
Feb 2016Standpoint ResearchDowngradesBuyHold
Feb 2016MacquarieMaintainsNeutral

View More Analyst Ratings for FOSL
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (FOSL)

View Comments and Join the Discussion!