Diebold Downgraded to "Sell" at Goldman Sachs (DBD)

Diebold Downgraded to “Sell” at Goldman Sachs (DBD)


Goldman Sachs reported on Wednesday that they have cut their rating of security systems company, Diebold Incorporated(DBD) to a “Sell.”

The firm has downgraded DBD from “Neutral” to “Sell,” and has reduced the company’s price target from $29 to $27. This price target suggests a -14% decline from the stock’s current price of $30.77.

Analysts see DBD’s ATM demand declining as banks scramble to cut costs. Additionally, the company may see losses in both their US and Brazil ATM markets. DBD may also see a pricing risk as they are pressured from larger banks.

Diebold shares were mostly flat during premarket trading Wednesday. The stock has increased 3% in the past year.

The Bottom Line
Shares of Diebold (DBD) have a 3.70% dividend yield, based on last night’s closing stock price of $30.77. The stock has technical support in the $27-$28 price area. If the shares can firm up, we see overhead resistance around the $34 price level.

Diebold Incorporated(DBD) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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