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Fly News Breaks for February 14, 2019
FOSL
Feb 14, 2019 | 08:46 EDT
Wells Fargo analyst Ike Boruchow lowered his price target for Fossil to $8 from $14 following quarterly results and as the analyst expects the top-line to remain under pressure with very little visibility into a turn in trend. Given that the secular pressure on traditional watches is far from abating, the falloff in wearables truly hurts any real bull case that was able to be made prior, he contends. Boruchow reiterates an Underperform rating on the shares.
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