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Fly News Breaks for March 20, 2018
FIT
Mar 20, 2018 | 08:35 EDT
Roth Capital analyst Scott Searle notes that Fitbit expanded its smartwatch product portfolio with the Versa and kid-friendly Ace fitness tracker, expanding its existing smartwatch portfolio beyond the male fitness oriented Ionic and better positioning the company to participate in the rapidly growing smartwatch market. With numbers de-risked, digital consumer and therapeutics models emerging and nearly $3 in net cash per share, the analyst believes shares remain attractive. Searle reiterates a Buy rating and $8 price target on the stock.
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