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UPDATE: Citi Downgrades Fossil Following ~18% Earnings-Related Surge

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Why Fossil (FOSL) is a Touch-Me-Not Stock for Investors

Shares of Fossil (NASDAQ: FOSL) have fallen more than 3.5 percent Wednesday following an earlier upgrade from Citi's Oliver Chen. The stock last traded at $121.97.

Chen now rates Fossil shares at Neutral; the price target was raised from $125 to $135.

The analyst believes near-term upside will be limited given a nearly 18 percent move higher on Tuesday following better-than-expected and raised guidance. Chen is concerned with a lack catalysts given the boosted outlook.

Volume in Fossil remains heavy heading into the last couple hours of Wednesday's session. Over 1 million shares have traded hands, compared to the stock's average daily volume just over 800,000 shares.

Latest Ratings for FOSL

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

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Posted-In: Analyst Color News Downgrades Price Target Analyst Ratings

 

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