Janney Montgomery Scott Downgrades FGX International Holdings (FGXI) to Sell
FGXI Hot Sheet
Rating Summary:0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Janney Montgomery Scott downgrades FGX International Holdings (Nasdaq: FGXI) to Sell. Fair value $21.
Janney analyst says, "FGX International Holdings which designs reading glasses and sunglasses, announced that it has agreed to be purchased by Essilor International for about $465 million.The two companies value the deal at approximately $565 million including FGX's debt. FGX shareholders will receive $19.75 in cash for each share they own. Essilor International, a French Company, is the world-wide leader in eyeglass lens that correct myopia, hyperopia, presbyopia and astigmatism. Essilor operates worldwide through 15 production sites, 293 lens finishing laboratories and local distribution networks. Based on our estimated $21.00 fair value and the cash nature of the sale we are downgrading to a sell."
To see all the upgrades/downgrades on shares of FGXI, visit our Analyst Ratings page.
FGX International Holdings Limited is a designer and marketer of non-prescription reading glasses, sunglasses and costume jewelry with a portfolio of eyewear brands, including FosterGrant and Magnivision.
Janney analyst says, "FGX International Holdings which designs reading glasses and sunglasses, announced that it has agreed to be purchased by Essilor International for about $465 million.The two companies value the deal at approximately $565 million including FGX's debt. FGX shareholders will receive $19.75 in cash for each share they own. Essilor International, a French Company, is the world-wide leader in eyeglass lens that correct myopia, hyperopia, presbyopia and astigmatism. Essilor operates worldwide through 15 production sites, 293 lens finishing laboratories and local distribution networks. Based on our estimated $21.00 fair value and the cash nature of the sale we are downgrading to a sell."
To see all the upgrades/downgrades on shares of FGXI, visit our Analyst Ratings page.
FGX International Holdings Limited is a designer and marketer of non-prescription reading glasses, sunglasses and costume jewelry with a portfolio of eyewear brands, including FosterGrant and Magnivision.
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