Is Fitbit Inc. (FIT) a Buy?

The outlook for its industry is bright, but no one would use that term to describe Wall Street's hopes for Fitbit's (NYSE: FIT)business. In fact, the wearable tech specialist was recently the target of a head-turning stock downgrade from a Morgan Stanleyanalyst who thinks shares could dive to $4. That would put the stock down more than 90% since its initial public offering in 2015.