Fitbit (FIT): Notes From NDR - Mizuho
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Mizuho Securities analyst, Betty Chen, reiterated her Buy rating on shares of Fitbit (NYSE: FIT) after hosting two days of investor meetings with FIT CFO William Zerella. The analyst walked away with more confidence in FIT's long term opportunity to maintain dominant share within the growing global market for wearables while pursuing opportunities in the healthcare industry.
The analyst believes that FIT’s 4 new product launches provide compelling features that should compete well in the connected fitness space and serve as key 2H/Spring ‘17 catalysts. No change to price target of $20.
Shares of Fitbit closed at $14.76 yesterday.
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