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Top Analyst Upgrades and Downgrades: BP, BHP Billiton, Goldman Sachs, Halliburton, IBM, Qualcomm, Rockwell Collins, Sirius XM and More

After a rough Tuesday, the markets are looking decidedly better this morning as the futures are indicating at least a reasonably solid open across the board. First-quarter earnings for the most part have come in a solid so far, and most of the strategists on Wall Street are calling for the overall best quarter we have seen in some time. With multiples elevated, and some stocks very pricey, we need to see strong earnings to help justify current trading levels.

24/7 Wall St. reviews dozens of analyst research reports each morning to find new trading and investing ideas for its readers. Some analyst calls cover stocks to buy, while others cover stocks to sell or avoid.

These are this Wednesday’s top analyst upgrades, downgrades and initiations.

BP PLC (NYSE: BP) was downgraded to Neutral from Buy at Citigroup. The 52-week trading range for the stock is $30.66 to $38.88, and the consensus price objective on Wall Street is $37.79. The stock close trading on Tuesday at $34.67.

BHP Billiton Ltd. (NYSE: BHP) is raised to Buy from Hold at HSBC. The 52-week range is $25.75 to $41.79. The consensus price objective is $39.93. The shares closed on Tuesday at $35.57.

Goldman Sachs Group Inc. (NYSE: GS) saw its price target lowered to $250 from $260 at RBC Capital Markets, as the company reported results this week way below expectations. The 52-week range for the investment banking giant is $138.20 to $255.15. The shares closed Tuesday at $215.59, down almost 5% on the day.

Halliburton Inc. (NYSE: HAL) was started with a Buy rating at HSBC. The 52-week range for the oilfield services behemoth is $38.24 to $58.78. The consensus price target is $63.23. The stock closed Tuesday at $48.53.

Harley-Davidson Inc. (NYSE: HOG) saw its price target lowered to $57 from $60 at RBC. The...