SunTrust's Bob Peck Applauds Fitbit's New Board Members

On Wednesday, Fitbit Inc FIT announced it had incorporated Williams-Sonoma, Inc. WSM’s President and CEO, Laura Alber, and Whole Foods Market, Inc. WFM’s EVP and CFO, Glenda Flanagan, to its Board of Directors.

Following the news, SunTrust’s Bob Peck reiterated a Buy rating and on shares of the tech company, arguing that the new Board members provide “Extensive Public Company Experience.”

Fitbit’s board is now formed by the company’s co-founders, CEO James Park and CTO Eric Friedman, and three other members that count with “extensive financial services experience - two Private Equity nominees Jonathan Callaghan and Steven Murray, and Christopher Paisley who is a professor of Accounting.”

Related Link: SunTrust's Peck Sees Captivate Corporate Wellness Event As Potentially Pivotal For Fitbit

What the two new members bring to this team is substantial public company management experience, which SunTrust analysts consider “could be critical especially as Fitbit looks to transform itself into a digital health and wellness provider.”

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.