Jefferies’ Apple Inc Stock Price Target $599, Cablevision and Abbott Labs a Buy

Apple Inc. (NASDAQ:AAPL): Jefferies views Apple’s event yesterday as a positive and said the iPad 3 announcement was as expected. The firm expects a future software update will support Siri and keeps a Buy rating on Apple shares with a $599 price target.

Cablevision Systems Corporation (NYSE:CVC): Citigroup added Cablevision to its Top Picks Live list citing valuation and expectations the company’s free cash flow will normalize in 2013. The firm raised its price target for shares to $23 from $21 and keeps a Buy rating on the stock.

InterMune Inc. (NASDAQ:ITMN): William Blair believes the German assessment body’s final assessment of Esbriet on March 15 will be a strong catalyst InterMune shares. The firm thinks an unquantifiable benefit, or rating 4, is the most likely outcome for Esbriet and keeps an Outperform rating on InterMune.

Abbott Laboratories (NYSE:ABT): Jefferies raised its price target for Abbott shares to reflect its sum-of-the-parts valuation. The firm believes the market significantly undervalues the break-up valuation of Abbott post the spin-off of the Proprietary Pharmaceuticals business and keeps a Buy rating on the stock.

Phoenix New Media Ltd ADR (NYSE:FENG): Morgan Stanley views the recent sell-off in Phoenix New Media is a buying opportunity.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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