Wall Street's Most Accurate Analysts Weigh In On 3 Tech Stocks With Over 3% Dividend Yields
Portfolio Pulse from Avi Kapoor
Wall Street's most accurate analysts have provided their latest ratings on three high-yielding tech stocks: Xerox Holdings Corporation (XRX), HP Inc. (HPQ), and Cisco Systems, Inc. (CSCO). These stocks offer dividend yields of over 3%, making them attractive to investors seeking stable returns during market turbulence.
June 14, 2024 | 12:51 pm
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POSITIVE IMPACT
Cisco Systems, Inc. has received neutral ratings from analysts. Needham's Alex Henderson reiterated a Hold rating, while Wells Fargo's Aaron Rakers maintained an Equal-Weight rating and raised the price target to $57. Cisco recently introduced a $1 billion AI investment fund.
The neutral analyst ratings are balanced by the positive news of Cisco's $1 billion AI investment fund, which could drive future growth. The dividend yield remains attractive.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
HP Inc. has received positive ratings from analysts. Citigroup's Asiya Merchant maintained a Buy rating and raised the price target to $37, while Barclays' Tim Long increased the price target to $33 with an Equal-Weight rating. HP reported a slight decline in Q2 FY24 net revenue but still beat consensus estimates.
The positive analyst ratings and better-than-expected Q2 FY24 revenue are likely to boost HP's stock price in the short term. The dividend yield adds to its attractiveness.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 100
NEUTRAL IMPACT
Xerox Holdings Corporation has received mixed ratings from analysts. JP Morgan's Samik Chatterjee maintained an Underweight rating and lowered the price target to $17, while Credit Suisse's Shannon Cross raised the price target to $11 but maintained an Underperform rating. Xerox recently declared a quarterly dividend of 25 cents per share.
The mixed analyst ratings suggest uncertainty about Xerox's short-term performance. The high dividend yield and recent dividend declaration may provide some support to the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100