Brean Capital Downgrades Fossil (FOSL) to Sell; Sees Q4 EPS Below Guidance
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Price: $104.30 -0.98%
Rating Summary:
6 Buy, 10 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
6 Buy, 10 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade FOSL Now!
Brean Capital downgraded Fossil (NASDAQ: FOSL) from Hold to Sell with a price target of $85.00.
The firm cut 2013 EPS from $6.00 to $5.81 and Q4 EPS from $2.25 to $2.50 which is below management's guidance of $2.26-$2.29.
"We belive the recent aggressive run up in the stock is unwarranted, especially in the near term, as we view China as slowing and Europe and the domestic markets remaining under pressure. Further, with the December Swiss watch data to be released next week (February 5th) and the company announcing 4Q12 results before the open on February 12th, we believe near term material catalysts are clearly on the horizon."
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 $106.69 yesterday, with a 52 week range of $62.77-$139.20.
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The firm cut 2013 EPS from $6.00 to $5.81 and Q4 EPS from $2.25 to $2.50 which is below management's guidance of $2.26-$2.29.
"We belive the recent aggressive run up in the stock is unwarranted, especially in the near term, as we view China as slowing and Europe and the domestic markets remaining under pressure. Further, with the December Swiss watch data to be released next week (February 5th) and the company announcing 4Q12 results before the open on February 12th, we believe near term material catalysts are clearly on the horizon."
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 $106.69 yesterday, with a 52 week range of $62.77-$139.20.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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