Dougherty & Co Reiterates Neutral on Fitbit (FIT) as Flex 2 and Charge 2 Images Surface
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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. http://www.technobuffalo.com/2016/08/16/fitbit-charge-2-and-fitbit-flex-2-images/
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."
Shares of Fitbit closed at $15.41 yesterday.
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