Before Wednesday’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.
Bank of America Initiated at “Buy”
Jefferies initiated Bank of America (BAC
) at “Buy,” and assigned the bank a price target of $19. The “Buy” rating is based on Jefferies BAC is reducing its costs, will benefit from the economic and housing recovery, and due to its large wealth management segment. The PT suggests a 15% upside to BAC’s current price. BAC has a dividend yield of 0.24%.
RBC Capital Downgrades Baker Hughes
Baker Hughes (BHI) was downgraded to “Sector Perform” from “Outperform” by RBC Capital due to the belief that BHI’s merger growth will be slower than expected. RBC has a $60 price target on BHI, suggesting a 13.7% upside to the stock’s current price. BHI has a dividend yield of 1.14%.
UBS Starts Burger King at “Buy”
UBS initiated Burger King Worldwide Inc. (BKW) at a “Buy” as UBS believes that investors have not appreciated Burger King’s free cash flow and transition to a high yielding stock. UBS has a PT of $26 on BKW, which suggests a 17% increase to the stock’s current price. BKW has a dividend yield of 1.26%.
JPM Lowers Cardinal Health’s Rating
Cardinal Health (CAH) was downgraded to “Neutral” from “Overweight” at JP Morgan. The downgraded was based on a valuation call, as CAH gained 60% in 2013, outpacing the broader markets. CAH has a dividend yield of 1.79%.
Clorox Gets Downgrade at JPM
JP Morgan downgraded Clorox Co. (
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