Fitbit Inc (NYSE:FIT) introduced yesterday in a company webcast its newest products, the $149.95 Fitbit Charge 2 and the $99.95 Flex 2, ahead of the IFA Consumer Electronics trade show that about to take place in Berlin from September 2nd through the 7th. Additionally, FIT announced a bolstered product band line for Alta and Blaze, as well as free software updates for Blaze.

Piper Jaffray analyst Erinn Murphy notes that these launches mark the fitness tracking giant’s second releases this year, which is “a pattern that management said we should expect going forward.”

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This pattern could bode well for FIT, and Murphy believes, “The continued infusion of fashion in Fitbit’s product should aid the company to convert retail consumers and help drive a product upgrade cycle,” but remains sidelined, noting, “however the additional devices are sure to cause some amount of cannibalization.”

Moreover, Murphy notes that “guidance provided at Q2 earnings call reflects these releases, so there has been no change to assumptions.”

The analyst reiterates a Neutral rating on FIT with a $14 price target, which represents a 6% downside from where the shares last closed.

As usual, we recommend taking analyst notes with a grain of salt. According to TipRanks, analyst Erinn Murphy is ranked #3,977 out of 4,129 analysts. Murphy has a 38% success rate and faces a loss of 8.6% in her yearly returns. When recommending FIT, Murphy loses 57.7% in average profits on the stock.

TipRanks analytics demonstrate FIT as a Buy. Based on 16 analysts polled in the last 3 months, 10 rate a Buy on FIT, while 6 maintain a Hold. The consensus price target stands at $20.68, marking a 38% upside from where the stock is currently trading.Screen Shot 08-30-16 at 01.26 PM