Wall Street's Most Accurate Analysts Give Their Take On 3 Tech Stocks Delivering High-Dividend Yields
Portfolio Pulse from Avi Kapoor
Analysts have provided their ratings on three high-dividend tech stocks: Methode Electronics, HP Inc., and Xerox Holdings. Methode Electronics has been rated Hold by Jefferies and downgraded to Neutral by Sidoti & Co. HP Inc. was downgraded to Neutral by Citigroup and B of A Securities. Xerox Holdings received an Underweight rating from JP Morgan and a Hold from Loop Capital, with both lowering their price targets.
October 23, 2024 | 1:21 pm
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NEGATIVE IMPACT
HP Inc. was downgraded to Neutral by both Citigroup and B of A Securities, despite better-than-expected Q3 results. The stock has a dividend yield of 3.04%.
The downgrades from Buy to Neutral by two major analysts could lead to a short-term negative impact on the stock price, despite strong Q3 results.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Xerox Holdings received an Underweight rating from JP Morgan and a Hold from Loop Capital, with both lowering their price targets. The stock has a dividend yield of 9.61%.
The Underweight and Hold ratings, along with reduced price targets, suggest a bearish outlook, likely leading to a short-term decline in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 85
NEUTRAL IMPACT
Methode Electronics has been rated Hold by Jefferies and downgraded to Neutral by Sidoti & Co. The stock has a dividend yield of 5.42%.
The Hold and Neutral ratings suggest a cautious outlook, which may stabilize the stock price in the short term. The high dividend yield could attract income-focused investors.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80