Benchmark Lowers Price Target on Fossil (FOSL), Reiterates Buy
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Price: $108.56 +1.37%
Rating Summary:
6 Buy, 10 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
6 Buy, 10 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade FOSL Now!
Analysts at Benchmark reiterated their Buy rating on Fossil (NASDAQ: FOSL) but lowered their price target to $85.00 (from $100.00).
Analyst Ronald Bookbinder said "We expect an in line performance for Q2 versus consensus of $0.78, which is at the middle of guidance of $0.77-$0.79 and includes $0.07 of Skagen transaction fees."
"Our Q2 EPS estimate is in line with consensus at $0.77, as the retailers continue to report strong revenue in accessories. Internationally, we believe Q2 was okay, with strength in Asia and Latin America and even growth in Europe. Although, we worry about a possible slowdown in China in addition to the tough environment in Europe and Korea. We believe this is a Company that is led by a talented management team, has a strong balance sheet, expected free cash flow of $100 million, and growth vehicles from Skagen and emerging markets." added Bookbinder.
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 $68.43 yesterday, with a 52 week range of $62.77-$139.20.
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Analyst Ronald Bookbinder said "We expect an in line performance for Q2 versus consensus of $0.78, which is at the middle of guidance of $0.77-$0.79 and includes $0.07 of Skagen transaction fees."
"Our Q2 EPS estimate is in line with consensus at $0.77, as the retailers continue to report strong revenue in accessories. Internationally, we believe Q2 was okay, with strength in Asia and Latin America and even growth in Europe. Although, we worry about a possible slowdown in China in addition to the tough environment in Europe and Korea. We believe this is a Company that is led by a talented management team, has a strong balance sheet, expected free cash flow of $100 million, and growth vehicles from Skagen and emerging markets." added Bookbinder.
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 $68.43 yesterday, with a 52 week range of $62.77-$139.20.
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