UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Fossil Before Tuesday Earning Report

In a report published Monday, Jefferies reiterated its Buy rating on Fossil

, and raised its price target from $115.00 to $125.00. Jefferies noted, “FOSL will report 4Q results before the market opens on Tuesday, February 12. We expect an in line quarter with generally solid results as we believe watches were a key gifting item this holiday season with the KORS brand in particular very strong and FOSL a key beneficiary. Looking ahead, we like easing European compares and more palatable expectations. Reiterate Buy rating and raising PT to $125.” Fossil closed on Friday at $105.78.