Analysts: Apple’s Valuation May Falter and 3 Other Research Notes to Check Out
Apple (NASDAQ:AAPL): Societe Generale downgraded Apple to Hold from Buy. The firm downgraded shares due to valuation and maintains its $500 price target.
Groupon (NASDAQ:GRPN): ITG Research says Groupon’s August slowdown was more than expected and equates to mid-20s year-over-year growth in the third quarter, as opposed to 30 percent year-over-year growth in the second quarter, creating risk to estimates.
Concur Technologies (NASDAQ:CNQR): UBS is more confident in Concur’s outlook following recent upbeat management meetings. The firm says card penetration remains low, international expansion is still early, organic growth rate in the 20-30 percent range is possible, and other large public sector contracts are likely. The shares are Buy rated, and the price target has been raised to $125 from $100.
Darden (NYSE:DRI): After Darden reported weaker-than-expected first-quarter results, Sterne Agee thinks the company is making positive changes and will cut its costs. The firm believes the company’s dividend is safe and that it creates a floor for the stock. The analyst keeps a Buy rating on the shares.