Analyst Alerts: Foot Locker, Arena Pharmaceuticals, Fossil, Sykes Enterprises May 8th
Fossil, Inc. (NASDAQ:FOSL): Citigroup lowered its estimates and price target for Fossil (NASDAQ:FOSL) following the company’s Q1 results and keeps a Neutral rating on the stock. The firm also reiterates a Buy rating on Movado (NYSE:MOV). Piper Jaffray views the sell-off in Fossil shares following the company’s Q1 results and guidance as an overreaction and recommends using the weakness as a buying opportunity. The firm lowered its price target for shares to $128 from $132 and reiterates an Overweight rating on the stock.
Foot Locker, Inc. (NYSE:FL): The firm has a Buy rating on the stock with a $39 price target.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA): After reviewing FDA briefing documents, Leerink notes that the FDA is asking the panel to answer only one question in deciding whether or not to recommend Arena’s Lorcaserin : Do the benefits of lorcaserin outweigh the risks? The firm believes that the use of only one question is negative for lorcaserin, and Leeink also notes that the FDA’s statistician is contending that the drug’s efficacy hasn’t been fully proven by a statistically significant level. The firm maintains a Market Perform rating on the stock.
Sykes Enterprises, Incorporated (NASDAQ:SYKE): After Sykes reported results above its previous guidance, BGB Securities believes that the stock’s risk/reward ratio remains positive. The firm reiterates a $20 target and Buy rating.
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