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Market Moves: Fitbit and Microsoft Shares Rise on Upgrades

Strategic Insights

— 2 min read

Fitbit shares rose 3.2% Monday after Barclays upgraded the stock to overweight, with a price target of 49. The upgrade came as rival Lululemon Athletica saw its price target cut from 55 to 42 by FBR Capital, causing the yoga wear brand's shares to drop 8.9%. Meanwhile, Microsoft shares rose 0.8% after Raymond James upgraded the tech giant to a strong buy, with a price target of 62. General Electric's price target was raised from 32 to 43 by RBC Capital Markets, but the stock dipped 1.4%. The moves came as analysts took action on several defense and aerospace stocks, with General Dynamics being upgraded to overweight and Lockheed Martin being downgraded to underweight.

Key Takeaways:

  • Fitbit shares rose 3.2% after Barclays upgraded the stock to overweight, with a price target of 49.
  • Lululemon Athletica shares dropped 8.9% after FBR Capital cut its price target from 55 to 42.
  • Microsoft shares rose 0.8% after Raymond James upgraded the stock to a strong buy, with a price target of 62.
  • General Electric's price target was raised from 32 to 43 by RBC Capital Markets, but the stock dipped 1.4%.
  • General Dynamics was upgraded to overweight with a price target of 157 by Barclays.
  • Lockheed Martin was downgraded to underweight with a price target of 210 by Barclays.
  • Raytheon was downgraded to equal weight with a price target of 125 by Barclays due to concerns over a kill-vehicle program.
  • Nomura upgraded Philip Morris International to neutral with a price target of 88, while Wolfe Research downgraded FedEx to peer perform.
  • Bank of America upgraded New York Community Bank to buy, while BMO Capital raised Synchrony Financial to outperform.

Statistics:

  • Fitbit shares rose 3.2% on Monday.
  • Lululemon Athletica shares dropped 8.9% on Monday.
  • Microsoft shares rose 0.8% on Monday.
  • General Electric's price target was raised from 32 to 43 by RBC Capital Markets.
  • General Dynamics was upgraded to overweight with a price target of 157 by Barclays.
  • Lockheed Martin's shares dropped 2.3% after the downgrade.
  • Raytheon's shares fell 2.2% after the downgrade.
  • Philip Morris International's shares dropped slightly after the upgrade.
  • FedEx shares fell 3.4% after the downgrade.

Sources:

  • "Market Data" from Investor's Business Daily, Monday, 2015.
  • Barclays, "Upgrades and Downgrades" report, 2015.
  • FBR Capital, "Upgrades and Downgrades" report, 2015.
  • Raymond James, "Upgrades and Downgrades" report, 2015.
  • RBC Capital Markets, "Upgrades and Downgrades" report, 2015.
  • Nomura, "Upgrades and Downgrades" report, 2015.
  • Wolfe Research, "Upgrades and Downgrades" report, 2015.
  • Bank of America, "Upgrades and Downgrades" report, 2015.
  • BMO Capital, "Upgrades and Downgrades" report, 2015.

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