Top Analyst Upgrades and Downgrades: Adobe, Best Buy, Fitbit, Home Depot, Lululemon, Micron and More

March 31, 2016 by Jon C. Ogg

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:
ArcelorMittal (NYSE: MT) was raised to Buy from Hold at Berenberg.

Ball Corp. (NYSE: BLL) was raised to Overweight from Equal Weight with a $79 price target at JPMorgan.

Costco Wholesale Corp. (NASDAQ: COST) was reiterated as Outperform and the price target was raised to $175 from $160.00 (versus a $157.60 close) at Oppenheimer.

Expedia Inc. (NASDAQ: EXPE) was started as Sector Weight at Pacific Crest.

Fortinet Inc. (NASDAQ: FTNT) was raised to Outperform from Market Perform with a price target of $37 (versus a $29.40 close) at Cowen.

Harmon International Industries Inc. (NYSE: HAR) was started with a Buy rating and a $110 price target (versus an $87.01 close) at Goldman Sachs.

Kinross Gold Corp. (NYSE: KGC) was Raised to Buy from Hold at TD Securities.

Landstar System Inc.(NASDAQ: LSTR) was downgraded to Hold from Buy at Stifel.

NxStage Medical Inc. (NASDAQ: NXTM) was started as Overweight with a price target of $18.50 (versus a $14.96 close) at Piper Jaffray.


New Jersey Resources Corp. (NYSE: NJR) was downgraded to Neutral from Buy at Janney.

Priceline Group Inc. (NASDAQ: PCLN) was started as Sector Weight at Pacific Crest.

Ralph Lauren Corp. (NYSE: RL) was started as Market Perform at Wells Fargo.

Realogy Holding Corp. (NYSE: RLGY) was started as Market Perform with a $37.50 price target (versus a $35.37 close) at Keefer Bruyette Woods.

RE/MAX Holdings Inc. (NYSE: RMAX) was started as Market Perform with a $34 price target (versus a $35.09 close) at Keefer Bruyette Woods.

Sabre Corp. (NASDAQ: SABR) was started as Overweight with a $35 price target (versus a $28.58 close) at Pacific Crest.

Spark Therapeutics Inc. (NASDAQ: ONCE) was started as Underperform with a $21 price target (versus a $31.63 close) at Wedbush Securities.

Syndax Pharmaceuticals Inc. (NASDAQ: SNDX) was started as Outperform with a $24 price target at Oppenheimer.

If you missed Wednesday’s top analyst upgrades and downgrades, they included Apple, AIG, Medivation, PayPal, Shake Shack, TerraForm Power and over a dozen more.

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