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Why Fitbit Shares Are 'Exploding'

Fitbit Inc (NYSE: FIT)'s holiday sales are exploding. Analysts at Pacific Crest Securities say they "would be buyers" of the stock because of pessimistic sentiment, CES coming up and continuing trends in the corporate wellness market.

Shares of Fitbit are up more than 4 percent on Monday on the back of the firm's latest report.

Pacific Crest's Brad Erickson reiterated an Overweight rating on the company, and a $47 price target. Erickson noted that Fitbit's "in-store demand came back in a big way since our Black Friday checks indicated disappointing sell-through a few weeks ago," and said he expects the company to beat Q4...