Thursday's Upgrades and Downgrades: Emerson Electric, Home Depot, Micron, Qualcomm, Seagate, Walmart and More

Seagate Technology Holdings PLC (NASDAQ: STX): The Zacks Bear of the Day faces stiff competition in an evolving industry, points out the analyst. Shares have traded as high as $117.67 in the past year but closed most recently at $53.91. That is down around 34% in the past 90 days.

Tencent Music Entertainment Group (NYSE: TME): Benchmark raised its Hold rating to Buy with a $7 target price. The consensus target is $5.76. Wednesday’s close at $5.28 was down over 9% on the day, despite solid results.

Texas Instruments Inc. (NYSE: TXN): Credit Suisse downgraded the legacy chip giant to Neutral from Outperform. Yet, it raised its $185 target price to $205, well above the $171.86 consensus target. The stock closed at $173.46 on Wednesday.

Textron Inc. (NYSE: TXT): Jefferies reiterated a Buy rating and has an $85 target price. The stock has traded as high as $79.45 in the past year but closed most recently at $69.62.

Unum Group Inc. (NYSE: UNM): Goldman Sachs downgraded the stock to Neutral from Buy. Its $50 price target is higher than the $44.92 consensus target. The shares were last seen on Wednesday trading at $40.00.

Varex Imaging Corp. (NASDAQ: VREX): Oppenheimer reiterated an Outperform rating with a $42 target price. The consensus target is $36.25. The stock closed on Wednesday at $22.90, up almost 4% on the day.

Walmart Inc. (NYSE: WMT): BofA Securities reiterated a Buy rating and raised its price target to $165 from $155. The consensus target is $156.11. The stock closed on Wednesday at $148.50.

Xylem Inc. (NYSE: XYL): Atlantic Equities upgraded the stock to Overweight from Neutral and raised its $110 target price to $129. The consensus target is $104.83, and Wednesday’s close was at $112.42.

A recession, if not here already, certainly is on the way and could be ugly. Eight blue-chip stocks offer income investors timely entry points, solid upside potential and dependable dividends, and they should survive in a turbulent market.

Wednesday’s early top analyst upgrades and downgrades included Catalent, Cisco Systems, Dentsply Sirona, Home Depot, Netflix, Nu, Palo Alto Networks, Snowflake, Tyson Foods, UiPath, Unity Software, Workday and Zscaler. Analyst calls seen later in the day were on Home Depot, Intel, Lincoln National, Marvell Technology, Medtronic, Microchip Technology, Nvidia, NXP Semiconductors, ON Semiconductor and more.

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