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Fly News Breaks for August 10, 2015
FOSL
Aug 10, 2015 | 06:51 EDT
Piper Jaffray analyst Erinn Murphy lowered her price target for Fossil to $60 ahead of the company's Q2 earnings results and keeps an Underweight rating on the name. Sell-through rates have likely underperformed sell-in, and there is risk to the Q3 guidance, Murphy tells investors in a research note. She sees headwinds for both watch category and Michael Kors, Fossil's single-largest licensed brand.
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