Market Overview

UPDATE: Citigroup Upgrades Fossil to Buy on Risk/Reward

Related FOSL
Top 4 NASDAQ Stocks In The Recreational Goods, Other Industry With The Highest Gross Margin
ISI Analysts Comment On Smartwatch Movement

Citigroup raised its rating on Fossil (NASDAQ: FOSL) from Neutral to Buy with a reiterated $100 price target.

Citigroup said, "We raise our rating to Buy from Neutral as we believe EPS upside potential should yield multiple expansion as growth story credibility returns. We see attractive risk/reward now on an inexpensive valuation, favorable currency, and new brand/product benefits to 2013 EPS. FOSL's structural positives remain: dominate moderate/fashion watch share; stellar brands Michael Kors, Marc Jacobs, Fossil, Burberry, Armani; leading supply chain; and global multichannel growth. Next catalyst for FOSL is 3Q EPS which occurs Nov 6th (3Q12 end Sept).

Fossil closed at $85.09 on Monday.

Latest Ratings for FOSL

DateFirmActionFromTo
Oct 2014Standpoint ResearchInitiates Coverage onBuy
Oct 2014ISI GroupUpgradesNeutralBuy
Aug 2014NomuraMaintainsNeutral

View More Analyst Ratings for FOSL
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (FOSL)

Around the Web, We're Loving...

Get Benzinga's Newsletters