| 2016-10-17 08:25:30|
FIT, GRMN 08:25 10/17 10/17/16
Fitbit Charge 2 launch has met expectations in U.S., says Longbow
Longbow analyst Joe Wittine said his channel checks indicate that the launch of Fitbit's (FIT) Charge 2 device has met "conservative" initial expectations in the U.S. and is exceeding expectations in Europe, disputing "a couple calls to the contrary." Additionally, his contacts see no reason to doubt Q4 holiday demand for Fitbit, noted Wittine, who keeps a Buy rating on the stock. The analyst also noted that his checks indicate Garmin's (GRMN) Fitness sales are growing in the low-20% range, providing potential for upside, though he keeps a Neutral rating on its shares.