Goldman Sachs Resumes Coverage on Lexmark International at “Sell” (LXK)
Analysts at Goldman Sachs reinstated coverage on Lexmark International Inc (LXK) on Tuesday, giving the printer maker a bearish rating as its shares are currently fully valued with headwinds going forward.
The analysts rate LXK as a “Sell” and see shares hitting $23. This price target suggests a 25% downside to Monday’s closing price of $30.79.
“With core laser printing revenues also under pressure, and investment requirements for its transformation into a software, services and solutions company, we believe the stock’s 32.8% run ytd leaves the shares more than fully valued,” said Goldman Sachs analyst Bill Shope.
Lexmark shares were inactive during pre-market trading on Tuesday. The stock is up +32.77% year-to-date.
The Bottom Line
Shares of Lexmark International (LXK) have a dividend yield of 3.90% based on last night’s closing price of $30.79 and the company’s annualized dividend payout of $1.20 per share.
Lexmark International Inc (LXK) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
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