Brean Murray Carret & Co. Downgrades Fossil (FOSL) to Hold; Pulling Back As Street Estimates Heat Up
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Price: $0.84 -1.18%
Rating Summary:
3 Buy, 11 Hold, 10 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
Rating Summary:
3 Buy, 11 Hold, 10 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
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Brean Murray Carret & Co. downgraded Fossil (NASDAQ: FOSL) from Buy to Hold.
Brean analyst says, "We are reducing our rating on FOSL and reiterating our 2011 and 2012 EPS projections (and rolling out quarterly 2012 estimates) after the company achieved our previous price target of $100. Although we believe Fossil possesses one of the most appealing business models in our universe and has a very strong market position as the key timepiece player, we are worried that Street expectations, especially for 1Q12 are once again overheating, which could lead to disappointments as Fossil management has traditionally remained conservative in their guidance; with 4Q11 earnings on tap for February 14th, we believe initial guidance will not be enough to justify the current valuation of over 18X our 2012 EPS projection. We will continue to look for an entry point that provides a more appealing risk/reward profile."
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 $100.49 yesterday.
Brean analyst says, "We are reducing our rating on FOSL and reiterating our 2011 and 2012 EPS projections (and rolling out quarterly 2012 estimates) after the company achieved our previous price target of $100. Although we believe Fossil possesses one of the most appealing business models in our universe and has a very strong market position as the key timepiece player, we are worried that Street expectations, especially for 1Q12 are once again overheating, which could lead to disappointments as Fossil management has traditionally remained conservative in their guidance; with 4Q11 earnings on tap for February 14th, we believe initial guidance will not be enough to justify the current valuation of over 18X our 2012 EPS projection. We will continue to look for an entry point that provides a more appealing risk/reward profile."
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 $100.49 yesterday.
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