Appliance maker Whirlpool Corporation ( WHR ) on Tuesday caught some further negative sentiment from analysts at Goldman Sachs.
The firm said it cut its price target on WHR from $42 to $35, suggesting a massive 27% downside to the stock's Monday closing price of $47.93.
Goldman also maintained its "Sell" rating on the company, noting that recent channel checks indicate increased promotions for appliances, and thus lower selling prices and margins.
Whirlpool shares were unchanged in premarket trading Tuesday.
The Bottom Line
Shares of Whirlpool ( WHR ) have a 4.17% dividend yield, based on last night's closing stock price of $47.93. The stock has technical support in the $40-$45 price area. If the shares can firm up, we see overhead resistance around the $55 price level.
Whirlpool Corporation ( WHR ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
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