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Top Analyst Upgrades and Downgrades: Fitbit, GE, Lockheed Martin, Lululemon, Marriott, Microsoft, Philip Morris, SLM and More

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Stocks were indicated to open higher on Monday, after ending up last week hardly changed from the prior week. Many investors and market participants may still be out on Monday after the Thanksgiving week, but those who are in seem to be following the four-year trend of wanting to buy stocks.

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

Fitbit Inc. (NYSE: FIT) was raised to Overweight from Equal Weight with a $49.00 price target at Barclays. Fitbit still has a consensus analyst price target close to $50, and it has a post-IPO trading range of $26.46 to $51.90. Merrill Lynch was also recently very positive on Fitbit shares.

General Electric Co. (NYSE: GE) was reiterated as Outperform but the price target was raised to $34 from $32 at RBC Capital Markets. GE closed most recently at $30.38, has a consensus analyst price target of $31.15 and has a 52-week range of $19.37 to $30.99. GE was maintained as Outperform last week at Credit Suisse, but the firm removed GE from its focus lists after a very short time.

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Lockheed Martin Corp. (NYSE: LMT) was downgraded to Underweight from Equal Weight with a $210 price target (versus a $225.91 prior close) at Barclays. Lockheed has a consensus analyst price target of $225.50 and a 52-week range of $181.91 to $227.90.

Lululemon Athletica Inc. (NASDAQ: LULU) was downgraded to Underperform from Marker Perform with a $42.00 price target (versus a $52.50 close) at FBR Capital Markets. Lululemon has a consensus analyst price target of $64.42 and a 52-week range of $43.14 to $70.00.

Marriott International Inc. (NYSE: MAR) was downgraded to Hold from Buy at Evercore ISI. Marriott closed at $71.48, has a consensus analyst price target of $83.53 and has a 52-week range of $63.95 to $85.00.

Microsoft Corp. (NASDAQ: MSFT) was raised to Strong Buy from Outperform and was given a $62.00 price target (versus a $53.93 close) at Raymond James. Microsoft has a consensus analyst price target of $55.97 and a 52-week range of $39.72 to $54.98. Microsoft also recently was named as a top triple-play pick at Oppenheimer as well.

Philip Morris International Inc. (NYSE: PM) was raised to Neutral from Reduce at Nomura Securities. The stock closed at $87.42, has a consensus analyst price target of $87.57 and has a 52-week range of $75.27 to $90.08.

SLM Corp. (NYSE: SLM) was started as Overweight with a $10.00 price target (versus a $6.71 close) at JPMorgan. SLM has a consensus price target of $10.81 and a 52-week range of $6.33 to $10.76.

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Other key analyst upgrades and downgrades seen this Monday included the following:

Abengoa Yield PLC (NASDAQ: ABY) was downgraded to Underperform from Neutral with a $12.00 price objective (versus a $14.85 close) at Bank of America Merrill Lynch. Canaccord Genuity also lowered its rating to Hold from Buy and cut its price target to $16 from $29 in its call.

Acuity Brands Inc. (NYSE: AYI) was maintained with a Buy rating but the price target was raised to $268.00 from $211.00.

Lions Gate Entertainment Corp. (NYSE: LGF) was maintained as Outperform at FBR Capital Markets, but the price target was cut to $38.00 from $43.00 (versus a $34.80 close), now that the Hunger Games series is coming to an end with the launch of its last installment.

PNM Resources Inc. (NYSE: PNM) was raised to Overweight from Equal Weight at Barclays.

Prestige Brands Holdings Inc. (NYSE: PBH) was downgraded to Sell from Hold with a $44 price target at Jefferies.

Prologis Inc. (NYSE: PLD) was downgraded to Market Perform from Outperform at Wells Fargo.

Raytheon Co. (NYSE: RTN) was downgraded to Equal Weight from Overweight at Barclays.

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Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT) was downgraded to Hold from Buy at Evercore ISI.

Team Health Holdings Inc. (NYSE: TMH) was started as Neutral with a $63.00 price target (versus a $57.24 close) at Goldman Sachs.

Wright Medical Group Inc. (NASDAQ: WMGI) was raised to Buy from Hold with a $29 price target at Jefferies.

The last full analyst upgrades and downgrades from last week were seen in shares of American Express, Carnival, eBay, HP, IAMGOLD, Pfizer, Tech Data and about 10 more companies. Last Tuesday’s top analyst upgrades and downgrades were in Avon Products, Brocade, Emerge Energy, GameStop, Infoblox, Kinross Gold, Teladoc and about a dozen more companies.

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