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Fly News Breaks for October 27, 2016
FIT
Oct 27, 2016 | 09:11 EDT
Wedbush analyst Nick McKay expects Fitbit's Q3 results to beat expectations, driven by "strong consumer demand for its catalog products" and an expanded retail presence that should bolster sales of its new products. The analyst believes that Fitbit's new Charge 2 is generating strong demand, and he expects the company to raise its guidance. McKay keeps an $18 price target and Outperform rating on the shares.
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