Fossil downgraded to Hold from Buy at Benchmark Co. Benchmark Co. downgraded Fossil citing valuation and its expectations that the company's 2013 outlook will be at best in-line with consensus estimates. The firm keeps a $105 price target for shares. Note Fossil reports Q4 results tomorrow, February 12.
Fossil downgraded to Neutral from Overweight at Piper Jaffray Piper Jaffray downgraded Fossil to Neutral saying the company's North American growth could slow further while foreign currency is a headwind with a third of its sales coming from Europe. Piper lowered its price target for shares to $104 from $133.