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Analyst Moves: Apple Inc, Alcoa, Hewlett-Packard Company, More (AAPL, AA, HPQ, More)

Shauna O'Brien Jan 13, 2015

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%.

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