Topeka previewed Fossil Group Inc FOSL Tuesday and reiterated its Buy rating and $150 price target ahead of the firm announcing Q3 results after the market close.
Analyst Dorothy Lakner noted that “coming on top of a 1H where it beat expectations in both quarters, we expect continued strength in watches and jewelry across most geographies and brands, continued improvement in Fossil leather, and stronger growth in less mature international markets.”
Lakner added that she also felt that was “continuing to hold its own in the US market based on category and brand strength.”
The analyst note concluded that “FOSL remains a key player in good growth categories (including wearables), with a strong brand portfolio and pipeline.”
Fossil recently traded at $103.58, up 0.35 percent.
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