Dougherty & Co Reiterates Neutral on Fitbit (FIT) as Flex 2 and Charge 2 Images Surface

August 17, 2016 9:59 AM EDT
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Dougherty & Co reiterated a Neutral rating on Fitbit (NYSE: FIT) after TechnoBuffalo published images of what it believes to be the company's forthcoming Flex 2 and Charge 2 activity trackers. The upcoming release of the Flex 2 and the Charge 2 have been well-telegraphed for months. However, very little is known about their capabilities. According to the images that surfaced last night, the standout feature of the Flex 2 is that is will be waterproof.

Analyst Charles Anderson commented, "Late yesterday, the tech blog TechnoBuffalo published images of what it believes to be the forthcoming Flex 2 and Charge 2 activity trackers from Fitbit. The story was subsequently picked up by The Verge, one of the most well-read tech blogs on the Internet (18MM unique monthly visitors, via Quantcast). We cannot speak to the accuracy of the thinly-sourced report, but the reality is these images are likely to be picked up broadly now."

For an analyst ratings summary and ratings history on Fitbit click here. For more ratings news on Fitbit click here.

Shares of Fitbit closed at $15.41 yesterday.

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