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Fly News Breaks for December 8, 2016
MDT, FIT
Dec 8, 2016 | 07:29 EDT
Oppenheimer analyst Andrew Uerkwitz sees Fitbit's (FIT) announcements of a partnership with medical device maker Medtronic (MDT) and acquisition of select assets from smartwatch maker Pebble as positive and supportive of his long-term thesis. The analyst says these moves will not immediately alleviate near-term sales concerns, but could help change the narrative, which is "badly needed." He reiterates an Outperform rating on Fitbit's shares.
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