Analysts: Shift in Attitudes Should Benefit Apple and 3 More Research Notes to Read
Apple (NASDAQ:AAPL) Jefferies upgraded Apple shares to Buy from Hold and raised its price target for the stock to $600 from $425. After speaking with suppliers in Asia, Jefferies believes there is a “substantial shift in attitudes” toward Apple. Jefferies believes suppliers have become far more lenient on price, which should boost Apple’s gross margins. The firm also finds the stock attractively valued at current levels. Shares of Apple closed Friday up $2.13, to $485.16.
Micron Technology (NASDAQ:MU) Citigroup raised its price target for Micron shares to $30 from $19, citing higher DRAM price assumptions. The firm reiterates a Buy rating on the stock.
Hain Celestial (NASDAQ:HAIN) Piper Jaffray upgraded Hain Celestial, citing the secular growth of healthy foods. Piper believes the company’s analyst day on Tuesday could prove to be a positive catalyst and raised its price target for the shares to $94 from $80.
International Business Machines (NYSE:IBM) Barclays believes IBM investors will evaluate the company on a cash flow basis over earnings. The analyst is concerned that the secular shifts to SaaS and Cloud are negatively impacting the company. The firm views shares as slightly expensive on a cash flow basis and downgraded them to Equal Weight to reflect slowing organic growth; the price target was lowered to $190 from $215.