Monday Analyst Moves: 3M Co, T. Rowe Price Group, Inc., More (MMM, TROW, BMS, More)
Before Monday’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.
3M Numbers Boosted at Credit Suisse
Diversified technology company 3M (MMM) had its estimates raised through 2015 by Credit Suisse, as the company is buying back more stock and has a tailwind from its pension. Credit Suisse rates 3M at “Neutral” and has a $128 price target, which suggests a 2.8% upside to 3M’s Friday closing price of $124.42. 3M currently yields 2.04% based on its annualized payout of $2.54.
UBS Upgrades TROW to “Buy”
T. Rowe Price (TROW) got an upgrade from “Neutral” to “Buy” at UBS, and also had its estimates raised. UBS cited slowing outflows from TROW’s international portfolio and TROW’s position to benefit from more industry inflows and active equity products as the reasons for the upgrade. TROW currently has a $90 price target from UBS, which suggests an 18.8% upside to its Friday closing price of $75.75. T. Rowe Price has a current dividend yield of 2.01%.
BMO Upgrades Abbvie to “Outperform”
AbbVie Inc. (ABBV) was upgraded by BMO Capital to “Outperform” from “Market Perform,” based on Abbvie’s Humira arthritis pain medication’s growth potential. BMO has a price target of $55 on Abbvie, which suggests an 11.6% upside to its Friday closing price of $49.30. Abbvie has a dividend yield of 3.25%.
Starwood Hotels Gets Numbers Boost from BMO
Starwood Hotels (HOT) shares are now expected to reach $75, according to BMO Capital. This price target suggests a fraction of upside from the stock’s Friday closing price of $74.56. Starwood recently gave new guidance, which factored into BMO raising the company’s estimates and price target. Starwood has a “Market Perform” rating at BMO. Starwood has a dividend yield of 1.81%.
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