Analyst Upgrades: McDonald's Corporation, Lululemon Athletica inc., and Planet Fitness Inc

Analysts are weighing in on fast food giant McDonald's Corporation (NYSE:MCD), athletic apparel retailer Lululemon Athletica inc. (NASDAQ:LULU), and gym operator Planet Fitness Inc (NYSE:PLNT). Here's a quick roundup of today's bullish brokerage notes on MCD, LULU, and PLNT.

• MCD is pointed 0.8% lower ahead of the opening bell, tracking losses in the broader Dow, even after Nomura upgraded the stock to "buy" from "neutral" and raised its price target to $135 from $112. McDonald's Corporation enjoyed a strong year in 2015, adding 26% to close the year at $118.14, and hitting a new all-time high of $120.23 last week. Still, more than half of analysts rate MCD a "hold" or worse. Option traders have been bearish lately, too. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security has racked up a 10-day put/call volume ratio of 1.24 -- which ranks higher than 88% of comparable readings in the last 12 months.

• LULU is headed 0.5% higher in electronic trading, after Jefferies upgraded the stock to "buy" and hiked its price target to $70, while Wells Fargo upped its rating to "outperform." Additionally, J.P. Morgan Securities hiked its price target on LULU to $66 from $55 -- a 25.8% premium to Thursday's close at $52.47. Lululemon Athletica Inc. has had a rocky few months, repeatedly hitting resistance in the $52 to $54 range, and slumping after reporting disappointing earnings and cutting its profit outlook in December. Traders have been betting against the shares, as well -- more than one-quarter of the stock's available float is sold short, representing five times LULU's average daily trading volume.

• Roth Capital initiated coverage on PLNT, which closed at $15.63 on Thursday, with a "buy" rating and price target of $18. Since pricing its initial public offering (IPO) at $16 in August, Planet Fitness Inc has traded mostly flat. Analysts seem to be seeing a bright future for the equity, though, as all nine brokerage firms providing coverage currently give PLNT a "buy" rating or better. But traders don't seem convinced. More than 20% of the stock's float is currently wrapped up in short interest. At PLNT's average daily volume, it would take nearly two weeks to buy back all these bearish positions.