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Before Monday’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.
Morgan Stanley Downgrades Cardinal Health
Cardinal Health (CAH ) was downgraded to “Equal-weight” at Morgan Stanley, due to a valuation call and price target of $86. Morgan Stanley’s $86 price target on CAH, suggests a 3% upside to the stock’s current price. CAH has dividend yield of 1.65%.
Keybanc Downgrades Crane
Crane Co. (CR ) was downgraded to “Hold” from “Buy” at Keybanc, based on a valuation call. Crane has a dividend yield of 2.17%.
Jefferies Downgrades Nabors Industries
Nabors Industries (NBR) was downgraded to “Underperform” from “Hold” at Jefferies, due to lower oil prices. Jefferies has a price target of $8 on NBR, suggesting a 30% downside to the stock’s current price. NBR has a yield of 1.39%.
Telsey Downgrades Staples
Staples (SPLS) was downgraded to “Underperform” from “Market Perform” at Telsey Advisory, based on a valuation call, as the analyst firm believes Staples’ stock price already factors in activist action. Telsey has an $18 price target on Staples, suggesting the stock will rise 6% from its current price. SPLS has a yield of 2.82%,
Deutsche Bank Downgrades Wyndham Worldwide
Wyndham Worldwide (WYN) was downgraded to “Sell” from “Hold” at Deutsche Bank, due to WYN’s multiple negative catalysts. DB has a price target of $69 on WYN, suggesting an 18% downside to the stock’s current price. WYN has a yield of 1.67%.
Morgan Stanley Cuts Numbers on AbbVie
AbbVie Inc. (ABBV ) had its price target and estimates cut as Morgan Stanley, as the company is seeing lower sales for its hepatitis-C vaccine. MS now has a price target of $65 on ABBV, suggesting an 8% upside. ABBV has a yield of 3.25%.
Credit Suisse Lowers Numbers on Avon Products
Avon Products (AVP) had its price target and estimates lowered at Credit Suisse, due to the company’s lower sales expectations. Credit Suisse now has a $9 price target on AVP, suggesting a 16% upside to the stock’s price. AVP has a yield of 3.1%.