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UPDATE: Citigroup Upgrades Fossil to Buy on Risk/Reward

Related FOSL
28 Stocks Moving In Wednesday's Pre-Market Session
25 Stocks Moving In Thursday's Pre-Market Session

Citigroup raised its rating on Fossil (NASDAQ: FOSL) from Neutral to Buy with a reiterated $100 price target.

Citigroup said, "We raise our rating to Buy from Neutral as we believe EPS upside potential should yield multiple expansion as growth story credibility returns. We see attractive risk/reward now on an inexpensive valuation, favorable currency, and new brand/product benefits to 2013 EPS. FOSL's structural positives remain: dominate moderate/fashion watch share; stellar brands Michael Kors, Marc Jacobs, Fossil, Burberry, Armani; leading supply chain; and global multichannel growth. Next catalyst for FOSL is 3Q EPS which occurs Nov 6th (3Q12 end Sept).

Fossil closed at $85.09 on Monday.

Latest Ratings for FOSL

Feb 2018BuckinghamMaintainsNeutralUnderperform
Feb 2018KeyBancMaintainsOverweightOverweight
Nov 2017Bank of AmericaMaintainsUnderperform

View More Analyst Ratings for FOSL
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings


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