Jefferies Cuts Price Target on Fossil Group (FOSL) to $24

November 4, 2016 9:13 AM EDT
Get Alerts FOSL Hot Sheet
Price: $25.33 +3.01%

Rating Summary:
    8 Buy, 14 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
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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."

For an analyst ratings summary and ratings history on Fossil click here. For more ratings news on Fossil click here.

Shares of Fossil closed at $24.71 yesterday.

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