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UPDATE: Jefferies Reduces PT to $115 on Fossil Following Q2 Results

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Jefferies reiterated its Buy rating on Fossil (NASDAQ: FOSL) and lowered its price target from $130 to $115.

Jefferies said, "2Q results were solid with good sales trends and better than expected margins. Topline strength was broad-based with DD% growth across all segments. Looking forward to 2H, FOSL will face easing compares on both the topline and margin side which should help drive results. FOSL is still an attractive growth story with margin tailwinds, a strong product cycle (watches), and near monopoly status."

Fossil closed at $68.79 on Tuesday.

Latest Ratings for FOSL

DateFirmActionFromTo
Feb 2017Wells FargoDowngradesMarket PerformUnderperform
Feb 2017MizuhoDowngradesNeutralUnderperform
Feb 2017Evercore ISI GroupDowngradesBuyHold

View More Analyst Ratings for FOSL
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Intraday Update Analyst Ratings

 

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