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Top Wall Street analysts are bullish on these dividend stocks

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TipRanks’ analyst ranking service highlights Wall Street’s best-performing stocks, including IBM and Target.

In tumultuous markets, investors can turn to dividend-paying stocks that offer income and can help cushion a portfolio in tough times.

While the consulting business in Q1 2024 was hit by the impact of macro challenges on discretionary spending, the analyst noted that there are many catalysts that hint at increased growth going forward. These catalysts include generative AI ramps, backlog conversion and M&A contribution in the second half of 2024 from previously announced deals. Daryanani is also optimistic about durable growth in the mainframe business.

Benedict thinks that the post-earnings selloff in TGT stock due to lower-than-expected earnings and price cuts announced by the company seems overdone. He contends that an incremental investment in value and affordability via low pricing was always a part of Target's strategy for fiscal 2024. The analyst added that the company's inventory continues to be in good shape.

 

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