Market Overview

Apple Analysts Cut Price Targets After Disappointing Quarter

Almost across the board on Thursday, sell side analysts slashed their price targets on Apple (NASDAQ: AAPL) as the stock tumbled about 10 percent.

Brian White of Topeka Capital, who had the highest price target on the street, cut it from $1111 to $888. He maintained his Buy rating. Jeff Gundlach, founder of Doubleline Capital, appeared on CNBC Wednesday and basically called out White directly.

Gundlach, a noted Apple bear, trashed the analyst community and characterized White's $1111 price target as a “cute” figure indicative of “game playing.”

Other analyst changes:

  • BTIG reiterated its Neutral rating with no price target.
  • RBC maintained its Outperform rating, but lowered its price target from $725 to $600.
  • Nomura maintained its Neutral rating and lowered its price target to $490 from $530.
  • Jefferies downgraded the company from Buy to Hold and lowered its price target from $800 to $500.
  • Credit Suisse maintained its Outperform rating and lowered its price target to $600 from $750.
  • Deutsche Bank lowered its price target to $575 from $800 and maintained its Buy rating.
  • BMO lowered its price target to $580 from $640 and maintained its Outperform rating.
  • Stifel Nicolaus maintained its Buy rating and lowered its price target from $725 to $650.
  • Goldman lowered its price target from $760 to $660 and maintained its Buy rating.
  • Scotia lowered its price target to $528 from $600 and downgraded its rating to Sector Perform from Outperform.
  • Barclays lowered its price target to $575 from $740 maintained its Overweight rating.
  • Credit Agricole lowered its price target to $575 from $680 maintained its Buy rating.
  • Piper Jaffray maintained its Overweight rating but lowered its price target to $767 from $875.
  • Canaccord lowered its price target from $750 to $650 and maintained its Buy rating.
  • Sterne Agee maintained its Buy rating and lowered its price target to $715 from $840.
  • Janney lowered its price target to $610 from $745 and maintained its Buy rating.
  • Societe Generale lowered its price target from $800 to $560 maintained its Buy rating.

Posted-In: News Downgrades Hedge Funds Price Target Reiteration Intraday Update Analyst Ratings Movers Best of Benzinga

 

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