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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.
JP Morgan Downgrades Alcoa
Alcoa (AA) was downgraded to “Neutral” from “Overweight” at JP Morgan, as the analyst firm believes that aluminum fundamentals are deteriorating. JPM has a price target of $20 on AA, suggesting the stock will rise by 20%.
Citigroup Rates AbbVie as “Sell”
AbbVie (ABBV ) was rated a new “Sell” at Citigroup, as Citi believes that Humira biosimilars will create tough competition. Citi has a price target of $48 on ABBV, suggesting the stock will fall by 16%.
BofA/Merrill Lynch Downgrades Abercrombie & Fitch
Abercrombie & Fitch (ANF) was downgraded to “Underperform” at BofA/Merrill Lynch, due to currency exposure risk. BofA/Merrill Lynch has a price target of $20 on ANF, suggesting the stock will fall by 22%.
Morgan Stanley Upgrades Mosaic
Mosaic Co. (MOS ) was upgraded to “Overweight” from “Equal-weight” at Morgan Stanley, based on a valuation call and Mosaic’s $56 price target. The price target suggests a 13% upside to Mosaic’s current price. MOS has a yield of 2.01%.
BMO Capital Upgrades Pfizer
Pfizer (PFE ) was upgraded to “Outperform” from “Market Perform” at BMO Capital, due to the company’s Hospira acquisition. BMO has a price target of $35 on PFE, suggesting a 6% upside to the stock’s current price. PFE has a yield of 3.38%.
Deutsche Bank Downgrades Prudential Financial
Prudential Financial (PRU ) was downgraded to “Hold” from “Buy” Deutsche Bank, as DB believes PRU will be hurt by lower interest rates. Deutsche Bank has a price target of $90 on Prudential, suggesting a 16% upside to the stock’s current price. PRU has a yield of 2.98%.
Argus Downgrades Exxon Mobil
Exxon Mobil (XOM ) was downgraded to “Hold” from “Buy” at Argus, as the analyst firm believes that XOM is leveraged to lower liquid prices. XOM has a yield of 3.02%.
Canaccord raises PT on Apple
Apple, Inc. (AAPL ) had its price target raised to $145 at Canaccord Genuity, as the analyst firm believes that Apple continues to dominate the smartphone market. The new price target suggests a 22% upside to the stock’s current price. AAPL has a yield of 1.58%.
BMO Boosts Numbers on Estee Lauder
Estee Lauder (EL ) had its estimates and price target raised at BMO Capital, as the analyst firm believes that new products are driving growth for the company. BMO now has a price target of $80 on EL, suggesting its stock price will stay flat. EL has a yield of 1.21%.