UPDATE: Jefferies Cuts PT to $420 on Apple on Channel Checks

Loading...
Loading...
Jefferies maintained Apple
AAPL
with a Hold rating and lowered the price target from $500.00 to $420.00. Jefferies commented, "Following our Feb 13 note, our Asia supply checks and sell-through checks lead us to cut revenues to the low end of CQ1 guidance; we see a 25% chance of missing guidance. Our checks also indicate that the iPhone 5S and low-cost iPhone launches return to CQ3 and that Apple is trying to bring forward its iPad launches to compensate. Our new estimates are even further below consensus for CQ2 and we cut our target from $500 to $420." Apple closed at $437.87 on Monday.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsJefferies
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...