As previously reported, Craig-Hallum analyst Steven Dyer upgraded Nautilus to Buy from Hold with a price target of $5, up from $3. The analyst notes that his channel checks continue to show "strong demand," backorders for its newest connected-fitness products. Dyer does not expect upside to Q4-2019 numbers as he thinks the business outside of new products continues to experience challenges, but believes Nautilus will generate free cash flow in its seasonally strongest quarter and management will talk bullishly about their latest product introductions.