Apple (AAPL) shares fell 1.56% in midday trading on Monday after Morgan Stanley (MS) cut its outlook for Apple smartphone sales, saying it now sees iPhone shipments falling 6% in the current fiscal year.
Shares of the $621.26 billion market cap company are up 3.13% year-over-year and 4.28% year-to-date.
Apple Inc., currently with a median Wall Street price target of $150 and a high target of $200 dropped $1.75 to $111.435 in recent trading.
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Analysts at Jefferies downgraded DuPont (DD) from ‘Buy’ to ‘Hold’ in a research report issued to clients on Monday. The target price for DD is set at $75. The firm based the downgrade on the values after the Dow Chemical merger, noting that much of the potential value now appears discounted.
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Raymond James reported on Monday that they have lowered their rating for Quidel Corp. (QDEL). The firm has downgraded QDEL from ‘Outperform’ to ‘Market Perform’ .
Quidel Corp. recently traded at $21.15, a loss of $0.65 over Friday’s closing price. The name has a current market cap of $703.34 million.
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Valeant Pharmaceuticals International, Inc. (VRX) was reiterated an ‘Outperform’ by RBC Capital Markets analysts on Monday. The broker however cut its price target on the stock to $194 from $206.
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