Investing

Wednesday Afternoon Analyst Upgrades and Downgrades: BHP, Ford, First Solar, Halliburton, SolarEdge, Thermo Fisher and More

Chris Lange

Published: October 20, 2021 3:52 pm

The earnings season rally continued into Wednesday with the Dow Jones industrial average hitting a record intraday high, taking out its previous high back in August. At the same time, Bitcoin is continuing its rally hitting more record levels above $65,000. Strong earnings have been powering this recent rally for the markets, it’s now a question of can they keep up the pace.

24/7 Wall St. is reviewing some big analyst calls seen on Wednesday. We have included the latest call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that analyst calls seen earlier in the day were on Gilead, Micron, Netflix, Urban Outfitters and more.

BHP Group (NYSE: BBL): Jefferies downgraded to a Hold rating from Buy. Shares were trading near $55 on Wednesday, and the analysts’ consensus target price is $58.50.

Ford Motor Co. (NYSE: F): Credit Suisse upgraded to an Outperform rating from Neutral and raised the price target to $20 from $15. The 52-week trading range is $7.61 to $16.45, and the share price is near $16.

First Solar, Inc. (NASDAQ: FSLR): Guggenheim downgraded to a Neutral rating from Buy. Shares were trading near $103 on Wednesday, and the consensus price target is $100.60.

Halliburton Co. (NYSE: HAL): Argus upgraded to a Buy rating from Hold with a $32 price target. The 52-week range is $10.99 to $26.68, and the share price is roughly $26.

Iridium Communications Inc. (NASDAQ: IRDM): BWS Financial upgraded to a Buy rating from Neutral and raised the price target to $60 from $37. Shares were trading around $41, well below the consensus price target of $43.40.

Penn National Gaming Inc. (NASDAQ: PENN): Morgan Stanley resumed coverage with an Equal Weight rating and an $85 price target. Shares were trading around $78, above the consensus price target of $103.13.

SolarEdge Technologies, Inc. (NASDAQ: SEDG): Guggenheim downgraded to a Neutral rating from Buy. Shares were trading near $308 apiece. The consensus price target is $316.91.

Thermo Fisher Scientific Inc. (NYSE: TMO): Citigroup upgraded to a Buy rating from Neutral and raised the price target to $700 from $620. Shares were trading near $605 on Wednesday, and the consensus target price is $649.39.

ZTO Express Inc. (NYSE: ZTO): Goldman Sachs downgraded to a Neutral rating form Buy with a $44 price target. The 52-week trading range is $25.23 to $38.96, and the share price is near $31.

Five top technology companies pay solid and dependable dividends and have solid growth prospects for the rest of the fourth quarter and beyond. They look like outstanding ideas now for investors looking for growth and income.