Top Analyst Upgrades and Downgrades: Adobe, Best Buy, Fitbit, Home Depot, Lululemon, Micron and More
Stocks were indicated marginally higher on the last day of the quarter, with the Dow coming into Thursday up about 300 points year to date. With stocks positive in 2016, negating the first six to seven weeks of selling pressure, investors are again caught between the trends of buying the dips or selling into the rallies.
24/7 Wall St. reviews dozens of analyst research reports each morning of the week to find new investing and trading ideas for our readers. Some of the daily analyst reports cover stocks to buy, and other reports cover stocks to sell or avoid.
These are top analyst upgrades, downgrades and initiations seen this Wednesday morning:
Adobe Systems Inc. (NASDAQ: ADBE) was started as Buy with a $110 price target (versus a $93.78 prior close) at Canaccord Genuity. It has a consensus analyst price target of $107.57 and a 52-week trading range of $71.27 to $98.00.
Best Buy Co. Inc. (NYSE: BBY) was started as Overweight with a price target of $45 (versus a $31.57 close) at Barclays. The consensus price target is $34.41, and it has a 52-week range of $25.31 to $39.10.
Fitbit Inc. (NYSE: FIT) was started as Buy with a price target of $20 (versus a $13.40 close) at Longbow Research. The consensus price target is $23.78, and the 52-week range is $11.91 to $51.90.
Home Depot Inc. (NYSE: HD) was started as Overweight with a $110 price target (versus a $133.42 close) at Barclays. The consensus price target is $142.17. The 52-week range is $92.17 to $135.47.
Lululemon Athletica Inc. (NASDAQ: LULU) was reiterated as Outperform and the price target was raised to $80 from $70 at Oppenheimer. Lululemon has a consensus price target of $64.16 and a 52-week range of $43.14 to $70.00.
Micron Technology Inc. (NASDAQ: MU) was downgraded to Neutral from Outperform at Macquarie after the key earnings report. It has a consensus analyst price target of $15.46 and a 52-week range of $9.31 to $29.78.
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Other key analyst upgrades and downgrades were seen in the following companies: