After Apple, This May Become The No. 2 Wearable Tech Maker

Fossil Group (FOSL) shares rocketed Wednesday after an analyst raised the price target on the company by 67% on the back of strong fourth-quarter earnings.

KeyBanc Capital Markets managing director Edward Yruma said in a research note the struggling watchmaker appears to be "finally making demonstrable progress in its transformation" and increased the target price to 25 from 15.

Key to the bullish case on Fossil is the company's transition to wearable technology, which now represents 20%...

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