Benchmark Downgrades Fossil (FOSL) to Hold; Valuation Call - Shares Look Full
Tweet
Share
E-mailGet Alerts FOSL Hot Sheet
Price: $5.58 --0%
Rating Summary:
4 Buy, 11 Hold, 11 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
4 Buy, 11 Hold, 11 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Join SI Premium – FREE
Benchmark downgraded Fossil (NASDAQ: FOSL) from Buy to Hold.
Analyst, Ronald Bookbinder, said, "The Company reported Q4 $0.10 ahead of expectations, including a tax benefit of approximately $0.21. The Company guided 2012 in line with consensus, excluding $0.18 of potential upside from the Skagen acquisition, and the shares climbed dramatically. While we believe that Skagen should be a nice growth vehicle and that the Michael Kors (Nasdaq: KORS) line of watches and jewelry should continue to grow dramatically, we believe this is already baked into expectations. With the share price having exceeded our former $115 price target and currently trading at over 12.5x forward EBITDA, which we consider a full valuation, we see little upside for shareholders."
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 $119.82 yesterday.
Analyst, Ronald Bookbinder, said, "The Company reported Q4 $0.10 ahead of expectations, including a tax benefit of approximately $0.21. The Company guided 2012 in line with consensus, excluding $0.18 of potential upside from the Skagen acquisition, and the shares climbed dramatically. While we believe that Skagen should be a nice growth vehicle and that the Michael Kors (Nasdaq: KORS) line of watches and jewelry should continue to grow dramatically, we believe this is already baked into expectations. With the share price having exceeded our former $115 price target and currently trading at over 12.5x forward EBITDA, which we consider a full valuation, we see little upside for shareholders."
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 $119.82 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JPMorgan Downgrades Limbach Holdings (LMB) to Underweight
- TD Cowen Downgrades Roots Corp. (ROOT:CN) (RROTF) to Sell
- Goldman Sachs Downgrades Kuaishou Technology (1024:HK) to Neutral
Create E-mail Alert Related Categories
DowngradesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
