Fossil misses guidance for fifth consecutive quarter, says Brean Capital Brean Capital reiterated its Sell rating on Fossil following its Q1 results. The firm said the company lowered guidance for the fifth consecutive quarter and registered a negative comp for the third consecutive quarter. Brean Capital also sees a lack of new products and material near-term issues that do not warrant a premium multiple for the company. Price target is $100.
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.