Fitbit Inc fka FIT

[eastunder]

Fitbit stock jumps after Citron says stock could more than double, predicts Google may acquire the company

By Emily Bary

Published: June 11, 2018 12:48 p.m. ET

https://www.marketwatch.com/Story/fitbit-stock-jumps-after-citron-says-stock-could-more-than-double-predicts-google-may-acquire-the-company-2018-06-11?&siteid=yhoof2&yptr=yahoo

Shares of Fitbit Inc. FIT, +11.81% are up 12.6% in Monday trading after Citron Research made a bullish call on the stock and said it could be worth $15 by the end of the year if the company isn't first acquired. The stock is currently trading near $7. The team at Citron is upbeat about the opportunities ahead of Fitbit as it makes a bigger push into the broader healthcare ecosystem. "What was once a piñata 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," the Citron analysts wrote. "Fitbit is wooing the right customer...insurance." Citron sees a high likelihood that Fitbit will get acquired in the next year, perhaps by Alphabet Inc.'s GOOGL, +1.21% Google. Shares were up earlier Monday after Fitbit said that its new kids' wearable was now globally available. Fitbit's stock is up 31% so far this month, while the S&P 500 SPX, +0.35% has gained 3.1%.