Fossil's (FOSL) Price Target Slashed to $33 at BofA/Merrill Lynch

BofA/Merrill Lynch maintained an Underperform rating on Fossil (NASDAQ: FOSL) and lowered its price target to $33.00 (from $51.00). 2015, '16, '17 EPS estimates were lowered to $4.35, $3.25, and $3.94, respectively (from $5.24, $5.12, $5.51). The change follows disappointing Q3 results.

Analyst said they were maintaining their Underperform rating on concerns about the fashion watch category, global macro pressures, and ramp up in investment spend.

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 $51.01 yesterday.

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