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Critical Facts You Need to Know About Preferred Stocks
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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.
Two Firms Downgrade Procter & Gamble
Argus has lowered its rating on Procter & Gamble (PG ) from “Buy” to “Hold.”
Societe Generale has cut its price target on PG to $96, suggesting an 11% increase. The firm has also lowered estimates on the company due to its currency exposure. PG has a dividend yield of 3.01%.
Visa Cut to “Market Perform”
Visa (V ) has been downgraded from “Outperform” to “Market Perform” at FBR Capital on a valuation call. The firm noted that Visa is leveraged to the stronger dollar. V has a dividend yield of 0.77%.
Drexel Hamilton Cuts Estimates on QUALCOMM
Drexel Hamilton has lowered its price target on QUALCOMM (QCOM ) to $60, suggesting a 4% drop. The firm has also cut estimates due to the company’s new guidance. QCOM has a dividend yield of 2.64%.
Abbott Upgraded at BofA/Merrill
Abbott Laboratories (ABT ) has been upgraded from “Neutral” to “Buy” at Bank of America/Merrill Lynch as analysts expect the company to deliver strong revenue growth. The firm has a $52 price target on ABT, suggesting a 15% upside. ABT has a dividend yield of 2.12%.
Broadcom Cut to “Market Perform”
Broadcom (BRCM) has been downgraded from “Outperform” to “Market Perform” at JMP Securities on a valuation call. BRCM has a dividend yield of 1.16%.
Credit Suisse Lowers Estimates on Raytheon
Credit Suisse has cut estimates on Raytheon (RTN) through 2016 as the company is facing higher pension costs. The firm has an “Outperform” rating and a new $115 price target on QCOM (suggesting a 12% increase). RTN has a dividend yield of 2.37%.
JP Morgan Cuts PT on Baxter
JP Morgan has lowered its price target on Baxter International (BAX ) to $68, suggesting a 4% drop. The firm has also cut estimates on the company due to its new guidance. BAX has a dividend yield of 2.91%.
Stanley Black & Decker Upgraded at Barclays
Stanley Black & Decker (SWK ) has been upgraded from “Underweight” to “Equal-weight” at Barclays. The firm has also boosted estimates on the company as the do-it-yourself segment is growing. Barclays currently has a $97 price target on SWK. SWK has a dividend yield of 2.18%.
JP Morgan Lowers Estimates on Hershey
JP Morgan has cut estimates on Hershey (HSY ) through 2016 as international growth is decelerating. The firm has a “Neutral” rating and a new $111 price target on HSY (suggesting a 7% upside). HSY has a dividend yield of 2.07%.
Foot Locker Downgraded at Barclays
Foot Locker, Inc. (FL ) has been downgraded from “Equal-weight” to “Overweight” at Barclays on a valuation call. FL has a dividend yield of 1.62%.
