Apple Downgraded on Currency, Lululemon and Xerox Boosted to Buy

A rare downgrade for Apple (AAPL), while Lululemon (LULU) and Xerox (XRX) celebrate an upgrade, all in Wednesday's Analysts' Actions. Apple was downgraded to HOLD at Societe Generale, though a $130 price target was maintained. The firm said quarterly sales will be hurt by a 5% currency headwind this quarter. Lululemon was upgraded to BUY with a $77 price target at Sterne Agee. Analysts said they are more confident in supply chain improvements after meeting with the company's new CFO. Citi upgraded Xerox to BUY and upped its price target to $15. The firm said the company is attractively valued and that cash build up could lead to M&A.