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In a note released Monday, Benchmark upgraded Fossil, Inc.
FOSL from Hold to Buy and maintained its $125 price target.
With Fossil scheduled to release Q1 earnings Tuesday, May 13th after the close Benchmark provided the following expectations.
- Q1 EPS $1.18
- ~15 percent of revenue attributable to Michael Kors
- "Strong" international sales and gross margin growth
- Company may have continued share buy back
Finally, Benchmark maintained it's 2014 EPS estimate of $7.24
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