UPDATE: Citigroup Downgrades Fossil to Neutral

by Benzinga Staff
March 2, 2012 10:04 AM | 27 seconds read | Make a Comment

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Citigroup lowers its price target on Fossil (NASDAQ: FOSL) to Neutral following its impressive stock run. Price target is now at $135.Citigroup notes, "We hosted meetings on 2/29-2/30/12 with FOSL's Chairman & CEO Kosta Kartsotis & CFO Mike Kovar. We con't to believe FOSL has sustainable competitive advantages in an attractive watch category (global appeal, high margins/turns, no weather/size issues) on high speed test & react, power brands, and design/sourcing/repair infrastructure. Lowering rating to Neutral on impressive stock run; price target to $135."FOSL closed at $124.11 a share yesterday.

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.

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Posted In: Analyst ColorDowngradesPrice TargetIntraday UpdateAnalyst RatingsCitigroup

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