Maxim starts Fossil at Buy, sees company in early innings of turnaround

Maxim analyst Thomas Forte initiated coverage of Fossil (FOSL) with a Buy rating and $5 price target The company is in the early innings of a multi-year, multi-part turnaround, which will enable it to start generating sales growth, a positive adjusted EBIT margin, and positive free cash flow in 2027, the analyst tells investors in a research note. With a strong owned and licensed brands portfolio, which includes Diesel, Michael Kors, and Armani Exchange, Maxim believes in the company’s potential to return to a sustainable, profitable growth path, the firm added.