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Fly News Breaks for February 10, 2017
FOSL
Feb 10, 2017 | 07:45 EDT
As previously reported, Mizuho downgraded Fossil to Underperform from Neutral and lowered its price target to $19 from $25. Analyst Betty Chen believes Fossil continues to face weak demand for traditional watches in FY17 and expects gross margins to be pressured by promotions, mix shirt into lower margin off-price channel, and structural headwinds from growing demand for lower-margin smartwatches.
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