Notable Upgrades: Fitbit (FIT), First Solar (FSLR), Sun Life Financial (SLF), Coupons.com (COUP), Stratasys Ltd. (SSYS)

Fitbit Inc. (FIT) was reiterated a ‘Buy’ by Stifel analysts on Thursday. The broker also raised its price target on the stock to $60 from $57.

Fitbit shares dropped $7.64 to $44.00 in midday trading despite beating 2Q’15 EPS and revenue estimates and guiding above analyst expectations.

In its quarterly report, the provider of wearable fitness-tracking devices said it earned $0.21 per share, well above the $0.09 per share analysts were expecting. Revenue rose 252.5% to $400.4 million, above views for $318.98 million.

Looking ahead, the company guided Q3’15 revenues of $335-$365 million, as compared to analysts’ expectations of $262.92 million. The management also gave its bottom line range of $0.07-$0.10 per share, against projections of $0.07 per share.

On valuation measures, Fitbit Inc. shares are currently priced at 95.11x this year’s forecasted earnings, which makes them quite expensive compared to the industry’s 9.07x earnings multiple. Ticker has a forward P/E of 56.35 and t-12 price-to-sales ratio of 10.91. EPS for the same period is $0.47.

In the past 52 weeks, shares of San Francisco, California-based company have traded between a low of $29.50 and a high of $51.90 and are now at $44.32. Shares are up 73.99% year-to-date.

First Solar, Inc. (FSLR) was reiterated as ‘Underperform’ with a $38 from $34 price target on Thursday by RBC Capital Markets.

On valuation measures, First Solar Inc. shares are currently priced at 23.09x this year’s forecasted earnings compared to the industry’s 1.39x earnings multiple. Ticker has a PEG and forward P/E ratio of (2.07) and 16.32, respectively. Price/Sales for the same period is 1.80 while EPS is $2.20.

Currently there are 7 analysts that rate FSLR a ‘Buy‘, 8 rate it a ‘Hold‘, whereas 1 analyst rates it a ‘Sell‘. The stock has a median Wall Street price target of $65.00 with a high target of $81.00.

Sun Life Financial Inc. (SLF) was raised to ‘Buy‘ from ‘Hold‘ at TD Securities on Thursday.

SLF is up $1.60 at $34.06 on heavy volume. Midway through trading Thursday, more than 2 million shares of Sun Life Financial Inc. have exchanged hands as compared to its average daily volume of 1.07 million shares. The has stock ranged in a price between $32.29-$34.25 after having opened the day at $33.37 as compared to the previous trading day’s close of $32.46.

In the past 52 weeks, shares of Toronto, Ontario-based financial services firm have traded between a low of $29.99 and a high of $38.71. Shares are down 10.33% year-over-year and 8.27% year-to-date.

Coupons.com Incorporated (COUP) was upgraded to ‘Buy‘ from ‘Hold‘ by Craig Hallum analysts on Thursday. Separately, the company reported second quarter EPS loss of ($0.11) before the opening bell, compared to the consensus estimate of ($0.01). Revenues increased 8.1% from last year to $55.9 million. Analysts expected revenues of $55.4 million.

Shares of Coupons.com  are currently up $1.06 to $10.26 on 1.29 million shares compared to the average volume of 717K shares.The stock began trading this morning at $10.00 to trade 11.28% higher from the prior days close of $9.20. On an intraday basis it has gotten as low as $8.95 and as high as $11.09.

Coupons.com shares have declined 11.54% in the last 4 weeks and 17.71% in the past three months. Over the past 5 trading sessions the stock has lost 7.72%.

The $850.08 million company is down 53.20% year-over-year, compared with a 9.96% gain in the S&P 500.

Stratasys Ltd. (SSYS) had its rating hiked to ‘Buy‘ from ‘Neutral‘ by Citigroup (C) today.

SSYS shares recently gained $1.89 to $29.89. The stock is down 71.17% year-over-year and has lost 66.31% year-to-date. In the past 52 weeks, shares of Eden Prairie, Minnesota-based company have traded between a low of $27.66 and a high of $130.83.

Stratasys Ltd. closed Wednesday at $28.00. The name has a current market cap of $1.52 billion.

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