In today’s series of downgrades and upgrades, Apple Inc. (NASDAQ:AAPL) was on the losing side while Palo Alto Networks Inc (NYSE:PANW) won the rating game challenge, which was refereed by Ann Inc (NYSE:ANN) because of its neutrality. Susannah Lee reported the updates on TheStreet today.
“[…] A downgraded Apple Inc. (NASDAQ:AAPL) is now graded a Hold from Buy by Deutsche Bank with a low price target of $102 . The analysts there say that the tech giant has limited surprise left and now the shares are fairly valued […],” informed Lee.
Apple Inc. (NASDAQ:AAPL)’s earlier price target was $105. Following the media event of Apple in September, the analysts believe that there are little surprises left for the consumers. However, Apple Inc. (NASDAQ:AAPL) should not be underestimated when it comes to surprises, especially the bad ones, in light of very recent history.
Palo Alto Networks Inc (NYSE:PANW) was skyrocketing on the stock exchange today. The stock gained 6.64% for the day and peaked at around $106.64 before closing at $104.7. Palo Alto Networks Inc (NYSE:PANW)’s success recipe has its grounds in the new sauce that the company is cooking, its anti hacking product, Traps, which uses a new approach to mitigate Advanced Persistent Threat (APT).
” […] Palo Alto Networks Inc (NYSE:PANW) shares are reacting positively to a price target boost from Piper Jaffray. The firm upped its price target by $10 to $120 […],” said Lee.
Ann Inc (NYSE:ANN) gained an equal weight rating from Barclays, according to Lee. This means that the bank will hold the fashion label’s stock in the same proportion as its benchmark index. Lee also quoted Barclays as mentioning that Ann Inc (NYSE:ANN) has a well balanced portfolio of brands that caters to varying life styles.
Ann Inc (NYSE:ANN), which is a women’s apparel retailer had its price target set at $42 by Barclays. The stock was trading at $39.85 at the close of the trading day today.
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