Top Analyst Upgrades and Downgrades: Aetna, Baker Hughes, Chesapeake Energy, Cognizant, Cummins, Eli Lilly, GE, Qualcomm, Weatherford and More

Ecolab Inc. (NYSE: ECL) was raised to Overweight from Neutral and its price target was raised to $157 from $147 at JPMorgan.

Electro Scientific Industries Inc. (NASDAQ: ESIO) was downgraded to Neutral at D.A. Davidson on news that MKS Instruments is acquiring the company. Its shares were up 91% at $28.53 afterward.

Eli Lilly and Co. (NYSE: LLY) was raised to Neutral from Underperform at Credit Suisse. The shares were indicated up 2% at $110.59 on Wednesday morning. That compares with a consensus target price of $112.06.

Gardner Denver Holdings Inc. (NYSE: GDI) was already rated as Buy but it was added to the prized Conviction Buy List at Goldman Sachs, along with a $34 price target. The stock closed up almost 4% at $26.59 ahead of this call, and it previously had a $33.35 consensus target price.

General Electric Co. (NYSE: GE) was down 8.8% at $10.18 on Tuesday after slashing its dividend to a penny. Now, UBS raised GE shares to Buy from Neutral with a $13 price target.

Qualcomm Inc. (NASDAQ: QCOM) was downgraded to Neutral from Buy with a $70 price objective (versus a $63.18 close) at Merrill Lynch. Qualcomm shares had a consensus analyst target of $72.62 ahead of the call.

SkyWest Inc. (NASDAQ: SKYW) was raised to Outperform from In-Line at Evercore ISI. Its shares closed up 1.2% on Tuesday, but they were indicated up more than 6% at $54.50 after earnings.

Veracyte Inc. (NASDAQ: VCYT) was raised to Buy with a $17 price target (versus an $11.56 close) at Janney, with the firm noting that revenue acceleration is taking place, along with lower cash burn and a developing margin leverage.

Weatherford International PLC (NYSE: WFT) was downgraded to Neutral from Buy and the price target was slashed to $1.50 from $5.00 at UBS. Weatherford closed down 18% at $1.26 on Tuesday, and it previously had a consensus target price of $3.63 before this or other target price cuts from analysts.

Yum China Holdings Inc. (NYSE: YUMC) was raised to Neutral from Underperform with a $35 price objective at Merrill Lynch. The stock closed up 1.5% at $31.69 ahead of this call but was indicated up almost 7% at $33.90 after beating earnings expectations with a slight miss on revenue.

Tuesday’s top analyst upgrades and downgrades included Akamai Technologies, JetBlue Airways, Nordstrom, Nvidia, On Semiconductor, Southwest Airlines, Ventas and many more companies.

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