In Tuesday’s analysts’ actions’ one Wall Street firm started coverage of Fitbit (FIT), GoPro (GPRO) and Apple (AAPL). Sterne Agee CRT began coverage of Fitbit with a NEUTRAL rating and a $45 price target. The firm is bullish on strong demand for wearables in the near term. On top of that, the company has a fast-growing user base and analysts are not too worried about competition from Apple’s Watch, according to the firm’s note. But, one concern is that the company already has a high valuation when the wearables market is just gaining momentum. The same firm initiated coverage of GoPro with a BUY rating and a $45 price target. The brand continues to get stronger with more innovative products expected to come out, analysts said. The firm added that its cameras won’t get eaten by smartphones because of its unique features. Looking ahead, the company plans to roll out its first quad copter in the first half of 2016. Apple is another winner. The same firm started coverage of Apple with a BUY rating and a $150 price target. TheStreet’s U-Jin Lee reports in New York.
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