Apple Analyst Sees $720 Ahead and 4 Investor Insights to Consider

Baker Hughes Incorporated (NYSE:BHI): According to ISI Group, Baker Hughes’ pre-announcement was “pretty ugly” as the issues hit international and weak NAM. The firm has stated that Baker Hughes may drop 3 to 5 percent, or more if Schlumberger (NYSE:SLB) is used as a reference.

Allergan Inc. (NYSE:AGN): Leerink has stated that that beginning on January 1, 2013, CMS intends to implement its official CPT codes for Allergan’s Botox procedures in chronic migraine and overactive bladder, which reduces the amount physicians are reimbursed for administration. The estimated procedure reimbursement for chronic migraine procedure will likely decline from $350 and $300, to $200 and $150, for commercial and Medicare, respectively. The firm has claimed that its small survey showed the majority of neurologists predicted that there would be a reduction during 2013. Leerink continues to be positive on Allergan shares and it gives the stock an Outperform rating.

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Apple Inc. (NASDAQ:AAPL): According to Bank of America Merrill Lynch, the sell-off in Apple resulting mainly from supply chain concerns is overdone, and valuation is at trough levels. The firm has trimmed its estimates, and it notes that supply chain adjustments are common and recent supplier production cuts come following peak production ramps and double ordering. Apple shares have a Buy rating and a $720 price target.

Red Hat, Inc. (NYSE:RHT) price target has been reduced by Susquehanna after its recent channel checks. The firm stated that Red Hat is to report its Q3 earnings on Thursday, and it thinks that the checks were better than predicted when considering the slowdown in sector growth rates. Susquehanna continues to be convinced that demand trends are more stable in the US, and it keeps its Positive rating on the stock.

Walgreen Co. (NYSE:WAG): Susquehanna has continued to be constructive on Walgreen due to its expectations of increases in consensus estimates, which accelerates same store sales and eases comps. The firm believes that any stock price weakness is a buying opportunity. The firm gives the stock a Positive rating and a $50 price target.

Investing Insights: Apple Chart of the Day: The iPad Mini Leads the Way.