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Fly News Breaks for November 13, 2015
FOSL
Nov 13, 2015 | 05:45 EDT
Nomura analyst Simeon Siegel cut his price target for Fossil Group to $40 saying the company's Q3 results and Q4 outlook "exacerbated investor fears of an ongoing sales and margin bleed." Fossil operates primarily in the challenging department store channel, and sells a product that is working to reinvent itself, Siegel tells investors in a post-earnings research note. He keeps a Neutral rating on the watchmaker.
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