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Fly News Breaks for April 3, 2017
FIT
Apr 3, 2017 | 10:23 EDT
Longbow analyst Joe Wittine continues to rate Fitbit a Neutral and does not believe a favorable Q2 guidance event is likely, since excess channel inventory of Flex 2, Blaze, and ALta should drive 1H volatility. Wittine sees an attractive risk/reward trade developing on Fitbit's smartwatch launch and discounted valuation but recommends "staying patient" until more concrete product specs are available.
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