US Top Rating Updates on 11/16: MU, QCOM, HD, XYL and More

Atlantic Equities analyst Richard Radbourne upgraded $Xylem (XYL.US)$ to Overweight from Neutral with a price target of $129, up from $110. Supply chain constraints weighed heavily on Xylem during 2022 but these are now easing and should allow the M&CS business to become an earnings tailwind during fiscal 2023, Radbourne tells investors in a research note.

Credit Suisse analyst Chris Caso initiated coverage of $Micron Technology (MU.US)$ with an Outperform rating and $78 price target, implying 25% upside potential from current levels. The analyst thinks long-term DRAM and NAND industry growth is intact. Also, DRAM consolidation and smaller shrink benefits minimizes risk of persistent overcapacity, Caso tells investors in a research note.

Credit Suisse analyst Chris Caso initiated coverage of $Qualcomm (QCOM.US)$ with an Outperform rating and $150 price target. Qualcomm has more short-term security than others in the group since Android has already corrected and the company is shipping below consumption, said Caso.