Fitbit Rallies Off Barclays Upgrade

shares are trading higher by $1.16 at $29 in Monday's session. The catalyst for the rally is a Barclays upgrade from Equal-Weight to Overweight with a $49 price target. That is shy of its all-time high made in August at $51.90. After a higher open, it peaked at $29.22 before falling back to the upper end of Friday's range and mounting another rally. The current high coincides with a pair of highs from November 19 ($29.40) and November 20 ($29.25).

Do you like this article? Do you have suggestions for improvement? Please email feedback@benzinga.com