Before Tuesday’s opening bell, a number of big name dividend stocks were the subject of analyst moves. Below, we highlight the most important analyst commentary for investors.
BP Downgraded to “Neutral”
Citi downgraded BP PLC (BP ) this morning from “buy” to “neutral” as crude oil prices have been struggling for the better part of the last year.
Seagate Technology Upgraded to “Neutral”
Bank of America/Merrill Lynch upgraded Seagate Technology (STX ) from “underperform” to “neutral” with a PT of $60 as the firm believes fundamentals for STX have bottomed and the stock has priced in PC market weakness.
Western Digital Upgraded to “Buy”
Bank of America/Merrill Lynch also upgraded Western Digital Corp. (WDC ) this morning from “neutral” to “buy”. The upgrade comes as the bank believes WDC fundamentals have bottomed out and the company is well poised to recover in the long-term.