Wall Street's Most Accurate Analysts Say Hold These 3 Tech Stocks Delivering High-Dividend Yields
Portfolio Pulse from Avi Kapoor
Wall Street's top analysts recommend holding three tech stocks with high-dividend yields: Methode Electronics, Inc. (MEI), Telefonaktiebolaget LM Ericsson (ERIC), and International Business Machines Corporation (IBM). These stocks are highlighted for their strong dividend yields amidst market uncertainty, with recent corporate developments and analyst ratings adjustments influencing their outlook.
May 14, 2024 | 12:30 pm
News sentiment analysis
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NEUTRAL IMPACT
ERIC received a Neutral rating from JP Morgan with a reduced price target and was downgraded to Market Perform by Raymond James. The company announced the resignation of a senior VP.
The adjustments in analyst ratings reflect a cautious stance on ERIC, compounded by the resignation of a key executive. This could signal internal challenges but also opportunities for renewal.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90
NEUTRAL IMPACT
IBM maintained Market Perform ratings from BMO Capital and Jefferies, both cutting price targets. The company is expanding collaboration with SAP for generative AI.
The consistent Market Perform ratings and reduced price targets suggest a stable yet cautious outlook for IBM. The expansion in AI collaboration with SAP indicates a strategic focus on growth areas, potentially offsetting negative pressures.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90
NEUTRAL IMPACT
Methode Electronics was downgraded by Sidoti & Co. to Neutral and maintained a Market Perform by Barrington Research. The company recently appointed Kevin Nystrom as interim CEO.
The downgrade by Sidoti & Co. and the reiteration of Market Perform by Barrington Research suggest a neutral short-term outlook for MEI. The appointment of an interim CEO could introduce uncertainty, but also potential for strategic shifts.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90