Top Analyst Upgrades and Downgrades Ahead of the Fed: Gap, HP, Lululemon, NVIDIA, Under Armour and Many More

Stocks were lower ahead of the Federal Open Market Committee (FOMC) meeting on Thursday, but that is after a week of strong performance. Whether the Federal Reserve hikes or not, the one trend that has remained in place for almost four years now is that investors have proven that they will buy value. Despite shares now having fallen more than 10% from the highs, every single dip has been followed with investors buying.

24/7 Wall St. reviews dozens of analyst research reports each morning to find new trading and investing ideas for its readers. Some analyst calls cover stocks to buy, while others cover stocks to sell or avoid. These are this Thursday’s top analyst upgrades, downgrades and initiations.

Gap Inc. (NYSE: GPS) was started as Buy with a $40.00 price target (versus a $32.00 prior close) at MKM Partners. The stock has a 52-week trading range of $30.75 to $44.36 and a consensus analyst price target of $38.15. Most analysts still prefer to be cautious on Gap.

Hewlett-Packard Co. (NYSE: HPW) was reiterated as Buy at Argus, but the firm lowered its price target to $36 from $43. Argus said that it intends to cover both Hewlett Packard Enterprise and HP after the split, but coverage will be named at that time rather than telegraphed ahead of time.

Lululemon Athletica Inc. (NASDAQ: LULU) was started as Buy and it was assigned a $69.00 price target (versus a $54.65 close) at MKM Partners. Lululemon has a consensus analyst price target of $64.13 and a 52-week range of $37.86 to $70.00.

NVIDIA Corp. (NASDAQ: NVDA) was raised to Buy from Hold and the price target was raised $30 from $23 (versus a $23.10 close) at Jefferies. NVIDIA has a consensus price target of $23.58 and a 52-week range of $16.77 to $23.95. What stands out here is that the prior highest analyst target was $28.00.

Under Armour Inc. (NYSE: UA) was reiterated as Outperform at FBR Capital Markets, while the price target was raised to $115 from $105 in the call. Credit Suisse maintained its Neutral rating. Under Armour closed at $103.36 and has a consensus price target of $102.48 and a 52-week range of $60.00 to $103.56.

ALSO READ: 8 Buybacks and Dividends Just Too Big to Ignore

Other key analyst upgrades, downgrades and initiations this Thursday were in the following:

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