Analysts: Apple Faces Continued Challenges and 3 More Research Notes to Explore
Apple (NASDAQ:AAPL): Susquehanna has lowered its Apple estimates to below consensus to reflect checks that indicate continued mix challenges, as the analyst does not believe Street estimates reflect the appropriate levels of low-end devices and that estimates will likely come down after the July earnings call. Additionally, checks indicate the new iPhone launch will be in early-September versus previous expectations of a July launch, adding additional risk to September quarter consensus estimates. The firm maintains its Neutral rating and lowers its price target to $440 from $480.
Celgene (NASDAQ:CELG): RBC Capital sees Celgene’s deal to co-develop a multiple myeloma treatment as being positive, and thinks the potential new drug could be synergistic with the company’s Revlimid and Pomalyst drugs. The enhances Celgene’s myeloma franchise according to the firm, which keeps an Outperform rating on the shares.
Boston Scientific (NYSE:BSX): Lazard Capital has taken its price target to $13 from $10, after meeting with management. The firm believes new products and the stock buyback could drive shares higher, and it keeps a Buy rating on the shares.
OceanFirst Financial (NASDAQ:OCFC): Sterne Agee upgraded OceanFirst to Buy from Neutral with a $17 price target, as the firm reports that the company would consider strategic alternatives if its profitability goals are not met, and the firm believes that the company could be worth $20-$21 per share in a sale.