In Thursday’s Analysts’ Actions, TheStreet highlights new coverage on Fitbit (FIT), and a couple of downgrades on Netflix (NFLX) and Amazon (AMZN). Analysts at Leerink initiated coverage on the newly public Fitbit with an OUTPERFORM rating and a $44 price target. The firm said the company is well positioned to capitalize on the ‘powerful secular trends’ in the consumer fitness tracker market. Analysts at Citigroup lowered their rating on shares of Netflix to NEUTRAL from BUY, citing a valuation call. The firm has a $722 price target on the video streaming service. Amazon also got hit with a downgrade. Analysts at Evercore ISI reduced its rating to HOLD from BUY, while maintaining its $460 price target on shares of the online retail giant. TheStreet’s Kurumi Fukushima reports in New York.
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