Fitbit, Micron Technology Upgraded; Coca-Cola Enterprises Downgraded

In Tuesday's Analysts' Actions, Wall Street firms are optimistic on Fitbit (FIT) and Micron Technology (MU), but a different story for Coca-Cola Enterprises (CCE). Fitbit upgraded at Morgan Stanley to OVERWEIGHT from EQUAL WEIGHT. Even though the Apple Watch launched in July, Fitbit held onto 21% of the market, analysts said. As the wearable market continues to grow, Fitbit is a strong leader. A recent survey shows that consumers are willing to shell out up to $250 for its devices, which will help boost revenue. Its price target was raised to $58 from $43. Similarly, MKM Partners raised its rating on Micron Technology to BUY from NEUTRAL with a price target of $23. Valuations are attractive, analysts said. The firm is bullish because Micron recently unveiled a new 3D XPoint technology with Intel (INTC). This is a completely 'new approach to non-volatile memory,' the firm noted. Meanwhile, analysts are bearish on Coca-Cola Enterprises. RBC Capital Markets downgraded the company to SECTOR PERFORM from OUTPERFORM. Since the company created Coca-Cola European Partners, any positive catalyst has already played out. Currently, there's a limited upside in the shares, analysts add. But, they're raising their price target to $54 from $48 because they feel the company still has potential long term. TheStreet's U-Jin Lee reports from New York.