Analysts: Apple’s Smartphone Market Share Will Slide and 3 Other Research Notes to Check Out
Apple (NASDAQ:AAPL): Bernstein does not have high hopes for the company’s smartphone growth this quarter, and expects its market share in the sector to drop about 12 percent in the coming quarter, though it dropped a more dramatic 23 percent in the same quarter last year. However, the firm notes that Apple shares tend to bottom out before a new product release, and Apple’s ecosystem remains dominant overall. It keeps a $600 price target on the shares, and an Outperform rating.
Chevron (NYSE:CVX): Cowen keeps Chevron as one of its leading investment recommendations, following the Q1 results. It has increased confidence in the company’s near/medium term production strategy, and sustainability of it its operational and financial performance. It rates the shares a Buy, with a $133 price target.
SunCoke Energy (NYSE:SXC): Wells Fargo recommends buying the shares on any weakness, after its higher than expected Q1 earnings and the expectations that it will sell assets to its MLP spinout Sun Coke Energy Partners in 1H14, benefitting both companies. It rates the stock at Outperform, and raised its estimates.
AIG (NYSE:AIG): Bernstein says that shares should be bought on weakness, which “will quickly pass” following the departure of four executives to form an E/S insurance business with Berkshire Hathaway (NYSE:BRKA) backing.