Fly News Breaks for February 14, 2018
Feb 14, 2018 | 07:01 EDT
KeyBanc analyst Edward Yruma raised his price target for Fossil to $25 from $15 as he believes the company is finally making demonstrable progress in its transformation. Strength in wearables has meaningfully changed the trajectory in watch sales and cost-reduction efforts should drive $150M-$200M in adjusted EBITDA, he contends. Further, the analyst believes a recent amendment lowers the near-term risk profile and potential upside is significant. Yruma reiterates an Overweight rating on the shares.
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