Citron Research, known for being a short-seller, posted on its website today a bullish research report on shares of Fitbit (FIT). The firm has a $15 “short-term target” for the stock, which represents upside of 130%. Fitbit in midday trading is up 41c, or 6.5%, to $6.76. “What was once a pinata for short-sellers (since IPO) has transformed itself to one of the most underappreciated med-tech stories in the market with a balance sheet and brand equity that gives investors a tremendous investing opportunity,” Citron writes. The firm sees the stock reaching $15 in 2018, “if not acquired first.”
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.