Apple (NASDAQ:AAPL): OTR Global said feedback at the IFA, Europe’s largest consumer electronic show, is mixed for the iPhone 5S from leading European distributors and carriers, but feedback indicates that Apple is focused on a new open market strategy for the cheaper iPhone 5C, which network operators do not appear to be interested in.
Palo Alto Networks (NYSE:PANW): RW Baird lowered its price target on Palo Alto to $60 from $65 ahead of fourth quarter results to reflect lower free cash flow. The firm maintains its positive outlook, citing expectations for new products and its status as best-of-breed security vendor. The shares are Outperform rated.
Outerwall (NASDAQ:OUTR): Pacific Crest downgraded Outerwall to Underperform from Sector Perform on expectations that the company’s cash flow outlook will deteriorate with declining rental volumes. The firm believes recent trends suggest fair value at $32 per share.
JPMorgan (NYSE:JPM): Sterne Agee believes JPMorgan risk/reward remains favorable given top tier profitability, market share, and return of capital to shareholders. The shares are Buy rated with a $65 price target.