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Whirlpool Cut to “Hold” at KeyBanc; No Catalysts Seen (WHR)

By Dividend.com,  April 19, 2012, 10:32:26 AM EDT

Home appliance maker Whirlpool Corporation ( WHR ) late Wednesday caught a big downgrade from analysts at KeyBanc.

The firm said it cut its rating on WHR from "Buy" to "Hold" and suspended its previous $85 price target on the stock.

A KeyBanc analyst commented, "a valuation ceiling is now likely in place near term following the ITC negative ruling on refrigerators (and likely read-through to washers in time) that removes preliminary tariffs in place since November 2011."

Whirlpool shares fell 99 cents, or -1.5%, in morning trading Thursday.

The Bottom Line
Shares of Whirlpool ( WHR ) have a 3.02% dividend yield, based on last night's closing stock price of $66.21. The stock has technical support in the $60-$63 price area. If the shares can firm up, we see overhead resistance around the $70-$75 price levels.

Whirlpool Corporation ( WHR ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: WHR



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