Diamonds and Dogs
Fitbit (FIT) looks fit for the holidays. Fitbit is the diamond today up 3% thanks to an upgrade at Barclays. Fitbit, the top maker of activity trackers and fitness bands, went public on June 18 at 20. It climbed as high as 51.90 on Aug. 5 before investors got vertigo. Its shares tumbled on concerns about increased competition and profit erosion, but today the Barclay's analyst seems to think the stock can go back to $49 a share. The analyst sees "meaningful catalysts" ahead including holiday season with a CES trade show, new product launches and corporate wellness opportunities.Lockheed Martin (LMT) gets hit with a downgrade. Lockheed's stock has performed well the last two weeks following the terrorist attacks in Paris and the heightened terrorism-related fears around the globe, but today the stock fell 3% on a downgrade. The analyst went from an Equal-Weight to an Under Weight, with a price target lowered to $210 from a previous $215.Lockheed is still acting a lot better than most stocks.
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