Jefferies Cuts Price Target on Fossil Group (FOSL) to $24
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- After-Hours Stock Movers 12/08: (FNSR) (AVGO) (GLPG) Higher; (XTLY) (RH) (DLTH) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Jefferies maintained a Hold rating on Fossil Group (NASDAQ: FOSL), and cut the price target to $24.00 (from $29.00), following the company's 3Q earnings report.
Analyst Randal Konik commented, "While 3Q beat, it marked another overall challenging quarter. Improvement in watch revs is encouraging, with a positive tone around new wearables product. However, with the key selling period still ahead, the go fwd guidance range is wide, implying the next test is the ability to sell through these new products. Therefore, we remain guarded in our NT outlook and see EPS bias to the downside. Reducing ests., lowering PT to $24."
Shares of Fossil closed at $24.71 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BMO Capital Cuts Price Target on Comtech Telecom (CMTL) to $16 Following 1Q
- UBS Cuts Price Target on SecureWorks Corp. (SCWX) to $13
- MKM Partners Raises Price Target on Ollie's Bargain Outlet (OLLI) Following 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesJefferies & Co, Earnings, Randal Konik
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!