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.

Analyst Comments Analyst EPS Change Analyst PT Change

Fossil Group (FOSL) Announces Misfit Inc. Acquisition Along Side 3Q Miss; Nomura Securities Cuts Price Target to $40 November 13, 2015 8:30 AM Fossil Group (FOSL) Misses already Negative 3Q Expectations; Piper Jaffray Cuts Price Target to $25 November 13, 2015 8:17 AM Fossil (FOSL) Best in Class but the Class is Shrinking - CowenNovember 13, 2015 7:44 AM Fossil Group (FOSL) Tops Q3 EPS by 6c; Enters Agreement to Acquire MisfitNovember 12, 2015 4:04 PM Fossil Group, Inc. to Acquire Wearable Technology Innovator MisfitNovember 12, 2015 4:03 PM Fossil Group, Inc. to Acquire Wearable Technology Innovator MisfitNovember 12, 2015 4:03 PM Fossil Group, Inc. Reports Third Quarter Fiscal 2015 Results and Enters Into Definitive Agreement to Acquire Misfit, Inc.November 12, 2015 4:01 PM