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UPDATE: Jefferies Reduces PT to $115 on Fossil Following Q2 Results

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Jefferies reiterated its Buy rating on Fossil (NASDAQ: FOSL) and lowered its price target from $130 to $115.

Jefferies said, "2Q results were solid with good sales trends and better than expected margins. Topline strength was broad-based with DD% growth across all segments. Looking forward to 2H, FOSL will face easing compares on both the topline and margin side which should help drive results. FOSL is still an attractive growth story with margin tailwinds, a strong product cycle (watches), and near monopoly status."

Fossil closed at $68.79 on Tuesday.

Latest Ratings for FOSL

DateFirmActionFromTo
Jan 2015BarclaysMaintainsUnderweight
Jan 2015Piper JaffrayDowngradesOverweightNeutral
Dec 2014Cowen & CompanyInitiates Coverage onOutperform

View More Analyst Ratings for FOSL
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Intraday Update Analyst Ratings

 

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