Market Overview

UPDATE: Piper Jaffray Upgrades Fossil Group on Accelerating Sales Catalysts, Margin Inflection Point

Related FOSL
15 Stocks Which Plummeted Three Days On Increasing Volume
Ralph Lauren Leads Gains In Retail Sector
Cheap Stocks Vs. Value Traps - Update And Watchlist (Seeking Alpha)

In a report published Wednesday, Piper Jaffray analyst Erinn E. Murphy upgraded the rating on Fossil Group (NASDAQ: FOSL) from Neutral to Overweight, and raised the price target from $121.00 to $147.00.

In the report, Piper Jaffray noted, “We are raising estimates, increasing our price target to $147 and upgrading shares of FOSL from Neutral to Overweight tied to our belief that sales catalysts are accelerating, and margins are at a positive inflection point. We believe FOSL is benefiting from a solid watch cycle, an evolving portfolio of global lifestyle brands (several rank well in our Teen Survey), macro-economic recovery in Europe (28% of sales) and expanding global distribution, in particular in Asia. From a margin perspective, we believe op margins over time can be in excess of 20% (from ~17% today). Separately, with earnings consistency (and potential outperformance), FOSL's multiple could expand.”

Fossil Group closed on Tuesday at $124.21.

Latest Ratings for FOSL

Oct 2016BuckinghamInitiates Coverage OnUnderperform
Aug 2016NomuraMaintainsNeutral
Mar 2016MacquarieDowngradesNeutralUnderperform

View More Analyst Ratings for FOSL
View the Latest Analyst Ratings

Posted-In: Erinn E. Murphy Piper JaffrayAnalyst Color Upgrades Analyst Ratings


Related Articles (FOSL)

View Comments and Join the Discussion!