Brean Murray Carret & Co. Upgrades Fossil (FOSL) to Buy; Time to Get Back In

Brean Murray Carret & Co. upgraded Fossil (NASDAQ: FOSL) to Buy with a price target of $100.00.

Brean analyst says, "After a material decline post 3Q, we believe the current valuation of 14.5X our below consensus 2012 EPS projection, materially less “hype” in Street projections for 4Q11, price increases for this year and the company’s first 2012 presentation at the ICR XChange conference on Thursday mor ning all presage a much better risk/reward environment for investors. As such, we believe now is an apt time to become aggressive in the name. We note our new price target of $100 translates into 18.5X our 2012 EPS projections, below peak valuations of over 20X next year’s EPS."

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 $78.46 yesterday.

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