Apple Inc. (NASDAQ:AAPL): Piper Jaffray says Apple last week received a patent for what appears to be a connected home system; Piper believes that while such a move would be a natural extension of Apple’s current operating system, it does not expect an iHome product in the next few years. However, the firm also says that the market opportunity could be meaningful for Apple over the long-term and maintains an Overweight rating on the stock with a $640 price target.
NetApp Inc. (NASDAQ:NTAP): Deutsche Bank lowered its earnings estimates for NetApp after its channel checks with 17 company resellers indicated that the federal demand is softer than the firm previously modeled; Deutsche lowered its price target for NetApp shares to $48 from $50 but believes investors already anticipate the weak federal results, and the firm keeps a Buy rating on the stock.
Safeway Inc. (NYSE:SWY): Deutsche Bank believes the short thesis that Safeway is on a similar trajectory as A&P, a company that filed to Chapter 11 in 2010, is “off base.” Deutsche believes Safeway’s balance sheet is “very strong” and notes that the company’s U.S. assets are in much better condition than A&P’s were; the firm has a Buy rating on Safeway with a $40 price target.
CBS Corp. (NYSE:CBS): Benchmark Co. raised its price target for CBS to $69 from $63, citing strong entertainment growth following the company’s third-quarter results; the firm keeps a Buy rating on CBS shares.