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Mizuho Securities Cuts Price Target on Fitbit (FIT) as Product Transition Weighs on 1Q Guide

February 23, 2016 8:11 AM EST

Mizuho Securities maintained a Buy rating on Fitbit (NYSE: FIT), and cut the price target to $20.00 (from $38.00), following the company's 4Q earnings report. FIT reported 4Q EPS of $0.35 vs. the Streets $0.25 estimate. Also, despite strong pre-order data from the new Blaze and Alta that... More