Whirlpool initiated with a Hold at Stifel

Stifel initiated coverage of Whirlpool (WHR) with a Hold rating and $80 price target The negative sentiment on the stock is warranted as the company’s brands sport lower smart product adoption vs. peers and weaker demographics are contributing to Whirlpool share losses, necessitating continued investment to sustainably alter the trajectory, the analyst tells investors in a research note. Stifel adds however that support levels are emerging with the Whirlpool’s 4.7% dividend yield compelling following the recent dividend reduction.