Fossil (FOSL) PT, Estimates Raised at Jefferies Amid Strong Q3

Jefferies analyst Randal Konik reiterated a Buy rating and boosted his price target on Fossil (NASDAQ: FOSL) to $150.00 (from $140.00) following strong results after the close.

Konik commented, "We think it is largely understood that Fossil is reaching maturity in the N. America market & redirect our attention to the sizable int'l growth opportunity. We think the KORS relationship and its growth prospects in Europe can provide meaningful momentum for Fossil's growth in the region, while the renegotiated licensing contract announced today removes a key overhang on FOSL shares."

The firm raised FY 2014 EPS from $7.25 to $7.30 and FY 2015 EPS from $8.06 to $8.15.

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 $103.75 yesterday.

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