In a report published Wednesday, Longbow analysts initiated coverage on Apple (AAPL) stock with a ‘Buy’ rating and price target of $125 per share, which represents an expected 32% upside to the stock’s Tuesday closing price of $94.99.
In other Apple news this morning, The Wall Street Journal is reporting the tech giant will eliminate the entry-level 16GB storage option when it launches its next iPhone. The base variant for Apple’s iPhone 7 will start from 32GB. The report also states that Cuepertino’s next iPhone will have storage options of 32GB,128GB, and 256GB. Presently, the iPhone 6s line-up is available in 16GB,64GB, and 128GB models. The Journal’s report seems to be helping shares of chipmaker Apple supplier Qorvo, Inc. (QRVO). Ticker up more than 2 percent in pre-market trading.
Jefferies analyst John Janedis downgraded Netflix, Inc. (NFLX) from ‘Hold’ to ‘Underperform’ in a research report issued to clients on Wednesday. The analyst cut his price target for the shares to $80 from $120, noting the company’s domestic subscriber growth trajectory “may be somewhat flatter” than the market’s current expectations. Janedis believes the slowing U.S. market will pressure the stock’s multiple.
Netflix Inc., currently with a median Street price target of $120.00 and a high target of $150.00, fell $3.16 to $94.75 in recent trading.
Deutsche Bank (DB) reported on Wednesday that they have lowered their rating for Juniper Networks, Inc. (JNPR). The banking giant downgraded JNPR to ‘Hold’ from ‘Buy’ and lowered its price target to $22 from $30.
Juniper Networks Inc. recently traded at $22.07, a loss of $0.28 over Tuesday’s closing price. The name has a current market capitalization of $8.47 billion.
As for passive income investors, the company pays shareholders $0.40 per share annually in dividends, yielding 1.79%.
SunPower Corporation (SPWR) received an upgrade to ‘Buy’ from ‘Neutral’ at UBS this morning. The firm however, lowered its price target to $22 from $31.
In the past 52 weeks, shares of San Jose, California-based company have traded between a low of $13.29 and a high of $31.10 and are now at $14.47.
Shares are down 46.07% year-over-year and 51.78% year-to-date.
Pacific Crest analyst Brad Erickson this morning reiterates a ‘Sector Weight’ on shares of Tesla Motors (TSLA), writing that the firm’s checks point to an unfavorable mix shift toward Tesla’s lower-priced car. The analyst slashed his fair-value estimate on the stock to $190 from $212.
Tesla fell about 2% pre-market to about $210 a share.