Fitbit Earns ‘OUTPERFORM’; Abercrombie & Fitch, Lowe's Rating Changes

In Tuesday's Analysts' Actions, TheStreet highlights a positive coverage initiation on Fitbit (FIT) as well as a couple of rating changes on Lowe's (LOW) and Abercrombie & Fitch Co. (ANF). Analysts at RBC Capital started coverage on newly public wearable fitness tracker company Fitbit with an OUTPERFROM rating and a $45 price target. Analysts at BMO Capital upgraded Lowe’s to OUTPERFORM from MARKET PERFORM with an $81 price target. The firm cited the stronger housing and overall economic activity in the Southeastern states for the higher rating on shares of the home improvement retailer. And analysts at FBR Capital cut its rating on teen apparel retailer Abercrombie & Fitch to MARKET PERFORM from OUTPERFORM with a $24 price target. FBR analysts believe a brand turnaround could be a multiyear transition. TheStreet's Kurumi Fukushima reports in New York.