Analysts: Apple Is a Buy Based on September Data and 3 More Research Notes to Read
Apple Inc. (NASDAQ:AAPL): Societe General upgraded Apple to Buy from Hold ahead of an October 28 report, based on strong September data points. The firm said data over the past few weeks from Taiwan and China are strong, driven by additional iPhone sales, and indicate potential weakness in Android/Samsung handsets. The firm has raised its iPhone unit forecast for the quarter to 34 million from 30 million, upgraded Apple shares to Buy, and raised its price target on the stock to $575 from $500.
Parker-Hannifin Corp. (NYSE:PH): R.W. Baird upgraded Parker-Hannifin to Outperform from Neutral, noting margin improvement in higher-margin distributor demand, capital deployment, and conservative guidance and earnings growth potential; the firm raised the price target for Parker-Hannifin shares to $122 from $101.
Athenahealth Inc. (NASDAQ:ATHN): Piper Jaffray raised its price target for Athenahealth shares to $181 from $123 following the company’s third-quarter results and keeps an Overweight rating on the stock; Piper thinks the upcoming analyst day will help investors understand Athenahealth’s long-term growth strategy.
Abercrombie & Fitch Co. (NYSE:ANF): Macquarie downgraded Abercrombie & Fitch to Neutral from Outperform due to negative sales trends, slow mall traffic, a lack of strong fashion trends, and expectations the company will report warnings prior to its analyst day on November 6; the firm’s price target for Abercrombie & Fitch shares is $36.