Before Tuesday’s opening bell, a number of big-name dividend stocks were the subject of analyst upgrades and downgrades. Below, we highlight the moves investors need to know.
1. Morgan Stanley Upgrades Marvell
Morgan Stanley upgraded Marvell (MRVL ) from Equalweight to Overweight with a price target of $17.50—up from $15.00.
Shares of Marvell closed at $13.14 before the holiday.
2. Goldman Sachs Upgrades L Brands
Goldman Sachs upgraded L Brands (LB ) from Buy to Conviction Buy with a price target of $106.00, up from $104.00.
Shares of L Brands closed at $87.46 Friday before the long weekend.
3. Needham & Company Downgrades NetApp
Needham & Company downgraded NetApp (NTAP ) from Buy to Hold following a weak Q4 and what’s said to be one of the “worst” conference calls in years.
Shares of NetApp closed last week at $35.33. Just last Thursday, FBN reduced its Price Target to $33.
4. Credit Suisse Downgrades Regency Centers
Credit Suisse downgraded Regency Centers (REG ) from Neutral to Underperform and maintains its price target of $67.00.
Regency Centers shares closed at $64.80 last trading day.