Dividend Investing Ideas Center
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Shauna O'Brien Jan 16, 2015
Before Friday’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.
Intel Cut to “Market Perform”
Charter Equity downgraded Intel Corporation (INTC ) from “Buy” to “Market Perform” as the company is investing more back into the business, which would cut into earnings. INTC has a dividend yield of 2.49%.
Canaccord Genuity Cuts Estimates on AT&T
Canaccord Genuity has lowered its estimates on AT&T Inc. (T ) through 2015 as the company continues to face increased competition. T has a dividend yield of 5.65%.
Jefferies Cuts Numbers on Bank of America
Jefferies has lowered its estimates on Bank of America Corp (BAC ) through 2016 as the bank’s costs remain high and it is seeing lower net interest income. The firm has a “Buy” rating and a $19 price target on BAC (suggesting a 25% upside). BAC has a dividend yield of 1.32%.
Jefferies Lowers Estimates on Citigroup
Jefferies has cut its price target on Citigroup Inc (C ) to $56, suggesting a 19% upside. The firm has also lowered estimates on Citi due to lower trading and higher expenses. Citi has a dividend yield of 0.08%.
Morgan Stanley Raises Numbers on Target
Morgan Stanley has boosted its estimates on Target Corporation (TGT ) due to its planned exit from Canada. The firm has also raised its price target on the retailer to $73, suggesting a 2% dip. TGT has a dividend yield of 2.75%.
International Paper Upgraded at Wells
International Paper Co (IP ) has been upgraded from “Market Perform” to “Outperform” at Wells Fargo. The firm noted that IP is leveraged to lower energy costs and could raise prices in the spring. IP has a dividend yield of 3.00%.
T. Rowe Price Group Downgraded at JP Morgan
T. Rowe Price Group Inc (TROW ) has been downgraded from “Overweight” to “Underweight” at JP Morgan as asset growth appears to be slowing. The firm has a $78 price target on TROW, suggesting a 3% decline. TROW has a dividend yield of 2.17%.
Jefferies Lowers PT on Best Buy
Jefferies has cut its price target on Best Buy Co Inc (BBY ) to $43, suggesting a 25% upside. The firm has also lowered estimates on the company due to its new guidance. BBY has a dividend yield of 2.22%.
JP Morgan Cuts Estimates on Lennar
JP Morgan has lowered its estimates on Lennar Corporation (LEN ) through 2016 as the company now expects to see lower margins. The firm has an “Overweight” rating and a $49 price target on LEN, suggesting a 16% increase. LEN has a dividend yield of 0.38%.
Starwood Hotels & Resorts Cut to “Neutral”
Bank of America/Merrill Lynch cut its rating on Starwood Hotels & Resorts Worldwide Inc Liquid error: internal to “Neutral” as the company will be hurt by a stronger dollar and slower growth in Europe and China. HOT has a dividend yield of 1.91%.