Apple Gets a Downgrade and a New Street-High Target on the Same Day
- Longbow cuts to neutral while BofAML hikes target to $220
- Analysts debate iPhone cycle after shares gained 46% last year
Apple Downgraded to Neutral at Longbow Research
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Apple Inc. stock analysts headed in opposite directions, with the tech giant picking up a rare downgrade on the same day it got a new target price that exceeded all others on Wall Street.
While Longbow Research analyst Shawn Harrison cut the stock to neutral on Wednesday, Bank of America Merrill Lynch analyst Wamsi Mohan raised his target price to $220 from $180. That’s the highest among analysts surveyed by Bloomberg. The shares fell 0.3 percent to $175.74 at 10:50 a.m. in New York.