Analysts: Apple Faces Risk to Consensus Estimates and 3 More Research Notes to Check Out
Apple Inc. (NASDAQ:AAPL): Jefferies believes investors are increasingly expecting Apple to miss its fourth quarter consensus estimates, due to a lackluster iPhone 5S launch. The firm sees risk to the consensus estimates, but thinks that buy-side expectations are coming down closer to its forecast. Jefferies raised its price target for Apple shares to $450 from $405, and reiterates a Hold rating on the stock.
J.C. Penney (NYSE:JCP): Maxim believes that concerns about CIT cutting its credit to J. C. Penney are overblown, and it reiterates a Buy rating on the stock. The firm finds it unlikely that CIT would cut the credit after the retailer just received an injection of cash, though the firm did lower its second quarter earnings estimate for J.C. Penney to -$0.93 from -$0.30.
Micron (NASDAQ:MU): Goldman removed the Not-Rated designation from Micron and rated it a Neutral, as the analyst sees limited upside given weaker DRAM spot pricing.
Comcast (NASDAQ:CMCSA): RW Baird has upgraded Comcast to Outperform from Neutral, following solid second quarter results, citing valuation and best in class execution. The price target was raised to $54 from $45.
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