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Fly News Breaks for December 8, 2016
FIT
Dec 8, 2016 | 05:58 EDT
Deutsche Bank analyst Sherri Scribner downgraded Fitbit to Hold saying growth in the wearables market is slowing while the company's recent demand has decelerated. Recent IDC data suggests the wearables market grew just 3% in Q3, a "significant deceleration" from the 67% and 26% growth in Q1 and Q2, respectively, Scribner tells investors in a research note. She prefers to take a "wait-and-see approach" on Fitbit shares and cut her price target to $9 from $18.
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