Market Overview

UPDATE: ISI Group Downgrades Fossil to Hold

Share:
Related FOSL
Benzinga's Option Alert Recap From February 17
Mid-Afternoon Market Update: Groupon Surges After Strong Q4 Results; World Fuel Services Shares Slide
Fossil: Forward Guidance Is Very Disappointing, But I Am Still Very Happy With Its Financials (Seeking Alpha)

ISI Group reduced its rating on Fossil (NASDAQ: FOSL) from Buy to Hold with a price target of $100.

ISI Group commented, "We are downgrading FOSL to HOLD from BUY given our belief that the company is at a tricky crossroads, faced with the high risk-high reward opportunity to make the aggressive investments and strategic actions necessary to become the dominant, premium brand watch company globally. … FOSL's watch platform could easily be worth 25-30x earnings in our opinion, implying a $100+ share price just for the watch business. However, although management has executed phenomenally over the last 3 years, we would like to get greater visibility into the voracity of management's pursuit of this unprecedented multi-brand watch opportunity before pounding the table again."

Fossil closed at $88.39 on Monday.

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: ISI GroupAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (FOSL)

View Comments and Join the Discussion!