Benchmark Downgrades Fossil (FOSL) to Hold; Valuation Call
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Price: $5.69 +3.45%
Rating Summary:
4 Buy, 11 Hold, 11 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 9 | New: 24
Rating Summary:
4 Buy, 11 Hold, 11 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 9 | New: 24
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Benchmark downgraded Fossil (NASDAQ: FOSL) from Buy to Hold, raises price target from $100 to $115.
Benchmark analyst says, "Given the recent rally in the share price from approximately $73 to $108, we believe the shares are close to fully valued. While we believe that the global watch trend continues, especially in Asia and Latin America, we contend that much of the good news is already baked into the stock. We adjusted our price target to $115 as we begin to focus on 2012, maintaining our approximate multiples and applying them to our 2012 estimates...Our 2011 EPS estimate is $4.48. In 2011, we expect revenues to increase 28% to $2.6 billion."
For more ratings news on Fossil click here and for the rating history of Fossil click here.
Shares of Fossil closed at $107.84 yesterday.
Benchmark analyst says, "Given the recent rally in the share price from approximately $73 to $108, we believe the shares are close to fully valued. While we believe that the global watch trend continues, especially in Asia and Latin America, we contend that much of the good news is already baked into the stock. We adjusted our price target to $115 as we begin to focus on 2012, maintaining our approximate multiples and applying them to our 2012 estimates...Our 2011 EPS estimate is $4.48. In 2011, we expect revenues to increase 28% to $2.6 billion."
For more ratings news on Fossil click here and for the rating history of Fossil click here.
Shares of Fossil closed at $107.84 yesterday.
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