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Top Analyst Upgrades and Downgrades: Analog Devices, Apple, Best Buy, Dell, Dollar Tree, Fastly, GE, GM, HP, Medtronic, Zscaler and More

Fastly Inc. (NYSE: FSLY) was downgraded t Neutral from Outperform with a $90 price target at Credit Suisse. The stock closed down 2.5% at $81.25 a share ahead of the call and was indicated down 3% at $78.80 afterward. It had a $76.50 consensus target price.

Ford Motor Co. (NYSE: F) was downgraded to Equal Weight from Overweight at Morgan Stanley.

General Electric Co. (NYSE: GE) was reiterated as Buy and its price target was raised to $12 from $9 at UBS. GE shares closed up 3.7% at $10.45 on Tuesday, and they had a $9.09 consensus target price before another upgrade was seen on Tuesday.

General Motors Co. (NYSE: GM) was reiterated as Overweight and its price target was raised to $53 from $44 Morgan Stanley. GM shares closed up over 3.7% at $46.46 apiece and have a $46.94 consensus target price.

HP Inc. (NYSE: HPQ) closed up 2.6% at $21.75 a share on Tuesday, but the stock was indicated up 4.8% at $22.80 after earnings. UBS reiterated it as Buy and raised its price target to $26 from $25.

Medtronic PLC (NYSE: MDT) closed up 2.8% at $114.06 after earnings on Tuesday. Trust Securities reiterated its Buy rating and raised its target price to $128 from $120, noting that the company enters the post-pandemic era as a more aggressive competitor. SVB Leerink maintained the stock at Market Perform but raised its price target to $123 from $110. UBS reiterated its Buy rating and raised its target from $123 to $130.

Pure Storage Inc. (NYSE: PSTG) was reiterated as Overweight and its price target was raised to $23 from $20 at KeyBanc Capital Markets, and Wedbush Securities reiterated its Neutral rating with an $18 target price. The shares closed up seven cents at $19.76 apiece ahead of earnings, but they were down almost 6% at $18.60 on Wednesday’s post-earnings reaction. It had a $19.95 consensus analyst target.

Zscaler Inc. (NASDAQ: ZS) was raised to Outperform from Neutral with a $160 price target at Credit Suisse. The stock closed down 1.3% at $141.19 a share on Tuesday, and it has a $151.09 consensus target price.


Goldman Sachs has raised the price targets for some companies that delivered the goods in a big way during earnings season, suggesting that their stocks still have some very solid upside potential.

Tuesday’s top analyst upgrades and downgrades included Chubb, Duke Energy, General Electric, Nutanix, PACCAR, Ulta Beauty, ViacomCBS and Wells Fargo.