Tuesday's Top Analyst Upgrades and Downgrades: Apple, Best Buy, Disney, Emerson Electric, Micron Technology, Tapestry and More

Qualcomm Inc. (NASDAQ: QCOM): Wells Fargo downgraded the stock to Underweight from Equal Weight and has a $105 target price. The consensus target is up at $148.90. Monday’s close was at $121.21.

ShockWave Medical Inc. (NASDAQ: SWAV): Wells Fargo not only downgraded the stock to Equal Weight from Overweight but slashed its $300 target price to $235. The consensus target is $286.86. The stock closed almost 6% lower on Monday at $216.68.

Silvergate Capital Corp. (NYSE: SI): Wedbush reiterated an Outperform but lowered its $45 target price on the shares to $30. The consensus target is $50.55. Monday’s close was at $21.26.

Southern Co. (NYSE: SO): Wolfe Research upgraded the utility giant from Peer Perform to Outperform with a $76 target price. The consensus target is $68.88. The stock closed on Monday at $71.01, which was up almost 4% on the day.

Tapestry Inc. (NYSE: TPR): Goldman Sachs raised its Hold rating to Buy and lifted its $37 target price to $44. The consensus target is $43.52. The stock closed on Monday at $37.33.

Teledyne Technologies Inc. (NYSE: TDY): Morgan Stanley upgraded the shares to Equal Weight from Underweight, and it boosted its $445 target price to $488, above the $478 consensus target. Monday’s $419.64 close was up almost 4% on the day.

Texas Pacific Land Corp. (NYSE: TPL): With shares of the Zacks Bull of the Day up more than 100% this year, the analyst ponders how much more room they have to run. The stock is up almost 38% in just the past 90  days and last closed at $2,516.62 a share.

Walt Disney Co. (NYSE: DIS): Morgan Stanley reiterated an Overweight rating, but it trimmed its $125 target price to $115. The consensus target is $126.29. The stock closed on Monday at $94.66.

After a big fall rally and with interest rates still rising, it makes sense now for investors to look for top value stocks with healthy and dependable dividends. Five look like solid portfolio additions for 2023 with outstanding total return potential.

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Monday’s early top analyst upgrades and downgrades included Accenture, Analog Devices, Baxter International, Best Buy, Coinbase Global, Johnson Controls, Lam Research, Micron Technology and Qualcomm. Analyst calls seen later in the day were on Coupang Software, DraftKings, Gap, Levi Strauss, Murphy Oil, Royal Gold, Ulta Beauty, Under Armour and more.

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