With the company set to release its Q4 earnings on February 1, Fitbit Inc FIT 6.11% shares have plummeted since the launch of its new Blaze product. Clearly, the market is punishing Fitbit’s stock, but you wouldn’t know it by reading what analysts have to say.

Here’s how several Wall Street firms feel about Fitbit ahead of its earnings report.

Quantum Trading Strategies

CIO Sean Udall said Fitbit is on the top of his list of companies he believes could “annihilate the quarter.”

Pacific Crest

Analyst Brad Erickson sees “extremely healthy demand levels for Fitbit products” in Q4 and has an Overweight rating on the stock.

Barclays

Analyst Matthew McClintock praised Fitbit’s recent Blaze launch and says that the stock represents “an attractive buying opportunity ahead of later product launches.” Barclays has an Overweight rating and a $49 target for Fitbit.

Morgan Stanley

Analyst Katy Huberty pointed out…

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