Schaeffer's Trading Floor Blog

Analyst Downgrades: FOSL, INTC, and SKS

Analysts downwardly revised their ratings on Fossil, Intel, and Saks

by 6/27/2012 9:22 AM
Stocks quoted in this article:

Analysts are weighing in today on apparel stock Fossil, Inc. (NASDAQ:FOSL - 74.66), chip giant Intel Corporation (NASDAQ:INTC - 26.00), and upscale retailer Saks Incorporated (NYSE:SKS - 10.03). Here's a quick roundup of today's bearish brokerage notes.

  • FBR slashed its price target on FOSL to $80 from $95, well below the stock's average 12-month price target of $104.58. The shares have lately edged higher along the tentative support of their 10-day and 20-day moving averages, but FOSL is down considerably from its April highs near $140. There could be plenty more negative notes in store for the security, as seven analysts out of 12 maintain a "buy" or better rating on struggling FOSL.

  • Citigroup lowered its price target on INTC to $34 from $35, while Northland Capital started coverage of the stock with a less-than-enthusiastic "market perform" rating. Shares of the Dow component are off 0.2% ahead of the bell, with INTC set to chip away at its respectable year-to-date gain of 7.2%. The stock is on track to test support at its 10-month moving average, which hasn't been breached on a monthly closing basis since last September.

  • SKS was downgraded to "neutral" from "buy" at Citigroup, and the firm also reduced its price target to $11 from $14. The shares are off 3.3% in pre-market action, with SKS on pace to take a trip into single-digit territory. The equity finished Tuesday just a hair's breadth above the $10 level -- but with resistance from its 10-week moving average descending into the neighborhood, SKS could soon lose its footing above this round-number area for good.

permanent link

Partner Center

© 2015 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email:

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by | Data delayed 15-20 minutes unless otherwise indicated.