Analyst Moves: Apple, American Express, Apache, More (AAPL, AXP, APA, More)
Shauna O'Brien Feb 13, 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 Boost Apple’s Price Target
BMO Capital has raised its price target on Apple (AAPL ) to $135, suggesting a 7% upside. According to the firm, the iPhone can continue to drive growth.
UBS has increased its price target on Apple to $150, suggesting a 19% upside. AAPL has a dividend yield of 1.49%.
American Express Downgraded at BofA/Merrill
Bank of America/Merrill Lynch has cut its rating on American Express (AXP ) from “Buy” to “Underperform” and has given the company a $78 price target (suggesting a 3% decline). The firm has also cut estimates following reports that Costco (COST ) will stop accepting the card. AXP has a dividend yield of 1.29%.
Apache Upgraded at BofA/Merrill
Apache Liquid error: internal has been upgraded to “Neutral” at Bank of America/Merrill Lynch on a valuation call. APA has a dividend yield of 1.55%.
Societe Generale Downgrades Kellogg Company
Societe Generale has lowered its rating on Kellogg Company (K ) from “Hold” to “Sell” as the company is seeing lower domestic cereal and snack demands. The firm has a $60 price target on K, suggesting a 5% decline. K has a dividend yield of 3.10%.
The Gap Cut to “Neutral”
The Gap (GPS ) has been downgraded from “Neutral” to “Underperform” at Credit Suisse. The firm has a $37 price target on GPS, suggesting a 10% decline. Credit Suisse also lowered its estimates on GPS due to currency and deflationary issues. GPS has a dividend yield of 2.12%.
Waste Management Downgraded to “Hold”
Stifel has cut its rating on Waste Management (WM ) from “Buy” to “Hold” as the company is expected to generate lower free cash flow. The firm has a $53 price target on WM, suggesting that the stock will remain flat. WM has a dividend yield of 2.85%.
Two Analyst Changes on Dr Pepper Snapple
Dr Pepper Snapple (DPS ) has been downgraded from “Buy” to “Hold” at Gabelli.
Wells Fargo boosted its rating on DPS from “Underperform” to “Market Perform.” DPS has a dividend yield of 2.45%.
Zoetis Downgraded at JP Morgan
JP Morgan has downgraded Zoetis (ZTS ) from “Overweight” to “Neutral” on a valuation call. ZTS has a dividend yield of 0.73%.
Abercrombie & Fitch Cut to “Underperform”
Abercrombie & Fitch (ANF ) has been downgraded from “Neutral” to “Underperform” at Credit Suisse as the company is facing currency and deflationary issues. The firm has a $22 price target on ANF, suggesting a 12% from the stock’s current price. ANF has a dividend yield of 3.17%.
Rayonier Downgraded at DA Davidson
DA Davidson has cut its rating on Rayonier (RYN ) to “Neutral” on a valuation call. RYN has a dividend yield of 3.43%.
Pentair Downgraded at JP Morgan
Pentair (PNR ) has been cut to “Neutral” at JP Morgan. The firm has also lowered estimates on the company due to its new guidance. PNR has a dividend yield of 1.95%.
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