Wall Street's Most Accurate Analysts Say Hold These 3 Materials Stocks With Over 3% Dividend Yields
Portfolio Pulse from Avi Kapoor
Wall Street's most accurate analysts recommend holding three materials stocks with over 3% dividend yields: The Chemours Company (CC), Tronox Holdings plc (TROX), and International Flavors & Fragrances Inc. (IFF). JP Morgan and Morgan Stanley analysts have adjusted their ratings and price targets for CC, with recent weaker-than-expected quarterly results. TROX was downgraded by JP Morgan and upgraded by Credit Suisse, following a 26% decrease in third-quarter revenue. IFF's partnership with Kemira was expanded, and analysts from Stifel and JP Morgan have updated their price targets.
January 02, 2024 | 1:09 pm
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POSITIVE IMPACT
International Flavors & Fragrances Inc. offers a 4.00% dividend yield. Stifel raised the price target, while JP Morgan lowered it, amidst news of an expanded partnership with Kemira.
The expansion of a significant partnership and a raised price target from a highly accurate analyst could positively influence the stock price, despite another analyst's lowered target.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 85
NEUTRAL IMPACT
Tronox Holdings plc has a dividend yield of 3.53%. JP Morgan downgraded the stock and lowered the price target, while Credit Suisse upgraded it but with a modest price target increase, after a significant revenue drop in Q3.
Conflicting analyst ratings with a downgrade and an upgrade, but both with reduced price targets, create uncertainty. The high dividend yield may counterbalance the negative impact of reduced revenue.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
The Chemours Company has a dividend yield of 3.17%. Analysts from JP Morgan and Morgan Stanley have maintained neutral ratings but cut their price targets, following weaker-than-expected quarterly results.
The reduction in price targets by analysts with high accuracy rates, combined with recent poor quarterly results, could negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90