Jefferies raises its earnings estimates for fashion accessories maker Fossil (FOSL) and ups its...

|By:, SA News Editor

Jefferies raises its earnings estimates for fashion accessories maker Fossil (FOSL) and ups its price target for the stock to $160 from $125, citing benefits from FOSL's upcoming acquisition of Skagen. The market for watches is "very robust" now, the firm says, calling FOSL is a "near monopoly" in the category. FOSL +1.1% premarket.