Before Tuesday’s opening bell, a number of big name dividend stocks were the subject of analyst moves. Below, we highlight the important analyst commentary for investors.
Credit Suisse Upgrades Apple
Apple Inc. (AAPL ) has been upgraded from “Neutral” to “Outperform” at Credit Suisse. The firm has also boosted estimates on Apple due to the higher expected iPhone sales. Credit Suisse currently has a $130 price target on the company, suggesting a 18% upside. AAPL has a dividend yield of 1.72%.
Alcoa Estimates Cut At JP Morgan
JP Morgan has lowered its price target on Alcoa (AA ) to $22 (suggesting a 37% upside), while maintaining a “Overweight” rating. The firm has also lowered estimates on AA due to lower aluminum prices. AA has a dividend yield of 0.74%.
Hewlett-Packard Downgraded at Pacific Crest
Hewlett-Packard Company (HPQ ) has been downgraded from “Outperform” to “Sector Perform” at Pacific Crest on a valuation call. HPQ has a dividend yield of 1.60%.
Abbott Cut to “Hold”
Abbott Laboratories (ABT ) was downgraded from “Buy” to “Hold” at Jefferies on a valuation call. The firm noted that the company lacks near-term visibility. ABT has a dividend yield of 2.11%.
Marathon Petroleum Downgraded at JP Morgan
JP Morgan has cut its rating on Marathon Petroleum Corp (MPC ) from “Overweight” to “Neutral” on a valuation call based on the firm’s $97 price target. MPC has a dividend yield of 2.34%.
Franklin Resources Downgraded at BofA/Merrill
Franklin Resources, Inc. (BEN ) has been cut to “Neutral” at Bank of America/Merrill Lynch as the company is facing multiple growth headwinds. The firm has a $60 price target on BEN, suggesting a 14% upside. BEN has a dividend yield of 1.14%.
Valero Energy Boosted to “Overweight”
JP Morgan has raised its rating on Valero Energy Corporation (VLO ) from “Neutral” to “Overweight” as the company is capturing wider spreads and buying back more stock. VLO has a dividend yield of 2.32%.
Topeka Cuts Estimates on Tiffany & Co.
Topeka has cut its price target on Tiffany & Co. (TIF ) to $105, suggesting a 17% upside. The firm has also lowered estimates on TIF due to currency exposure. TIF has a dividend yield of 1.71%.
NetApp Cut to “Sector Perform”
Pacific Crest has lowered its rating on NetApp Inc. (NTAP ) to “Sector Perform” on a valuation call. NTAP has a dividend yield of 1.66%.
Alaska Air Upgraded to “Hold”
Alaska Air Group, Inc. (ALK) has been upgraded from “Sell” to “Hold” at Deutsche Bank as the company is expected to benefit from low fuel prices. The firm has a $65 price target on ALK, suggesting a 7% increase from the stock’s current price. ALK has a dividend yield of 0.82%.
Legg Mason Upgraded at BofA/Merrill
Legg Mason Inc (LM ) has been upgraded at Bank of America/Merrill Lynch from “Neutral” to “Buy” as asset flows are improving. The firm has a $62 price target on LM, suggesting a 17% increase. LM has a dividend yield of 1.21%.
Wolverine World Wide Downgraded at Wunderlich
Wunderlich has cut its rating on Wolverine World Wide, Inc. (WWW ) from “Buy” to “Hold” and has given the company a $28 price target. The firm has also lower estimates on WWW as the company is facing multiple earnings headwinds. WWW has a dividend yield of 0.81%.
