Wall Street's Most Accurate Analysts Reshuffled Their Best Materials Picks, Here They Are

US stocks closed higher on Wednesday following the release of minutes from the Fed meeting. Materials stocks were among the top performers, gaining around 1.7% during the session.

Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst's opinion to trust.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Here's a look at some of the top materials stocks from several analysts, according to Benzinga Analyst Stock Ratings.

BHP Group Limited BHP

• Jefferies analyst Chris LaFemina upgraded the stock from Hold to Buy on June 7, 2022, and raised the price target from $72 to $82. This analyst sees around 31% upside in the stock and has an accuracy rate of 45%.
• Recent News: BHP Group, during November, raised its offer for OZ Minerals to value the Australian miner at A$9.6 billion ($6.34 billion).

Rio Tinto Group RIO

• UBS analyst Myles Allsop downgraded the stock from Neutral to Sell on December 13, 2022,. Allsop has an accuracy rate of 68%.
• Jefferies analyst Chris LaFemina maintained a Hold rating on the company’s stock on March 9, 2022, and raised the price target from $86 to $92. This analyst sees around 28% surge in the stock and has an accuracy rate of 45%.
• Recent News: Turquoise Hill, last month, announced Receipt of final order for arrangement with Rio Tinto.

Vale S.A. VALE

• Morgan Stanley’s analyst Carlos De Alba upgraded the stock from Equal-Weight to Overweight on December 9, 2022, and raised the price target from $14.5 to $20. This analyst sees around 20% surge in the stock and has an accuracy rate of 77%.
• BMO Capital’s analyst David Gagliano maintained an Outperform rating on the company’s stock on December 8, 2022, and increased the price target from $16 to $20. This analyst sees the stock gaining 20%, and has an accuracy rate of 51%.
• Recent News: Vale, last month, said it sees 2023 Capex of $6 billion.

Air Products and Chemicals, Inc. APD

• Vertical Research’s analyst Kevin McCarthy downgraded the stock from Buy to Hold on January 4, 2023, and with a price target of $328. This analyst sees around 7% rise in the stock and has an accuracy rate of 61%.
• Citigroup’s analyst PJ Juvekar maintained a Neutral rating on December 15, 2022, and raised the price target from $294 to $339. Juvekar sees the stock jumping around 10%, and has an accuracy rate of 67%.
• Recent News: Air Products Qudra, last month, signed an agreement to supply hydrogen for mobility to Saudi Ground Services.

The Sherwin-Williams Company SHW

• JP Morgan’s analyst Jeffrey Zekauskas reiterated an Overweight rating on the company’s stock on December 2, 2022, and raised the price target from $250 to $260. This analyst sees around 6% rise in the stock and has an accuracy rate of 73%.
• Barclays analyst Michael Leithead maintained an Equal-Weight rating on October 28, 2022, and increased the price target from $235 to $245. Leithead sees the stock gaining around 0.3%, and has an accuracy rate of 43%.
• Recent News: Sherwin-Williams, during November, announced plans to acquire Wood Coatings Companies, Oskar Nolte GmbH and Klumpp Coatings GmbH.