Fitbit (FIT): Earnings Preview - Oppenheimer
- Wall Street rises, buoyed by economic data; Dow sets high
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- After-Hours Stock Movers 12/05: (TXMD) (COUP) (BOBE) Higher; (SB) (LXRX) (STWD) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Oppenheimer analyst, Andrew Uerkwitz, reiterated his Outperform rating on shares of Fitbit (NYSE: FIT) and believes perceived September/October weakness is business as usual—not just for FIT but for the broader consumer electronics space.
The analyst believes that consumers are finished with back-to-school buys and are gearing up for winter holidays. December-quarter estimates are a leap of faith, but looking at past/recent trends gives the analyst confidence in the long term potential for the company. The analyst is seeing a pickup in tracker, in particular the Charge HR 2. Moreover, looking past the holidays, he believes the fuller-featured, higher-quality Charge HR 2 is a harbinger of things to come in 2017.
No change to the price target of $25.
Shares of Fitbit closed at $13.26 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Goldman Sachs Downgrades Marvell (MRVL) to Sell
- MKM Partners Favors Asset-Light Lodging Stocks; Updates Ratings - (BEL) (CHH) (H) (HLT) (IHG) (MAR) (STAY) (WYN)
- Evercore ISI Raises Price Target on Regions Financial (RF) to $15 After Meeting with Management
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesEarnings, Andrew Uerkwitz
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!