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UPDATE: Citi Downgrades Fossil Following ~18% Earnings-Related Surge

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Fossil's Bear Case Is Playing Out, Leading Oppenheimer To Lower Estimates

Shares of Fossil (NASDAQ: FOSL) have fallen more than 3.5 percent Wednesday following an earlier upgrade from Citi's Oliver Chen. The stock last traded at $121.97.

Chen now rates Fossil shares at Neutral; the price target was raised from $125 to $135.

The analyst believes near-term upside will be limited given a nearly 18 percent move higher on Tuesday following better-than-expected and raised guidance. Chen is concerned with a lack catalysts given the boosted outlook.

Volume in Fossil remains heavy heading into the last couple hours of Wednesday's session. Over 1 million shares have traded hands, compared to the stock's average daily volume just over 800,000 shares.

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: Analyst Color News Downgrades Price Target Analyst Ratings

 

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