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Fly News Breaks for December 15, 2017
FIT
Dec 15, 2017 | 06:59 EDT
Stifel analyst Jim Duffy downgraded Fitbit to Sell from Hold as he expects the company will remain unprofitable and burn cash in 2018. Breakeven operating margin would require a return to mid-teens revenue growth in 2018, which Duffy views as "a high hurdle" given that fitness tracker relevance continues to wane, he tells investors. He keeps a $6 price target on Fitbit shares.
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