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Analyst Moves: Procter & Gamble, Visa, QUALCOMM, More (PG, V, QCOM, More)

Shauna O'Brien Jan 30, 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.


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%.

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