Today, an analyst from a big firm (a really big firm) downgraded shares of Fossil (FOSL) to neutral from overweight. That's fine...except that yesterday the stock collapsed 27%. One more time, why do these analysts get paid so much money?
But there is good news. Today a different analyst at a different firm upgraded it to from hold to buy. Doesn't that make a whole lot more sense then closing the barn door after the cow left?
And just to be fair to an industry - some people actually protect their clients. This same analyst cut the stock from a buy to hold in February after a big pop higher.
Kudos to the Benchmark Company.
A lump of coal to JP Morgan. Oops, I said it.