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Apple, RIM, PNC, IBM: Analysts' New Ratings

Stocks in this article: AAPL ALKS ARUN

Editor's Note: Green and red arrows refer to intraday stock price movement.


Apple (AAPL) estimates, target lowered at Oppenheimer. AAPL estimates were cut through 2012. Visibility remains poor on the next iPhone launch. Outperform rating and new $420 price target.

Apple (AAPL) rated new Outperform at FBN Securities. $500 price target. Company is a leader in fast-growing markets.

Alkermes (ALKS) rated new Buy at MKM Partners. $20 price target. ELN deal should help add to growth.

Aruba Networks (ARUN) rated new Outperform at Morgan Keegan. $35 price target. Company is leveraged to higher demand for a distributed workforce.

Biogen Idec (BIIB) upgraded at Deutsche Bank from Hold to Buy. $129 price target. Large cap biotech stock with significant opportunity for upside. (CRM) rated new Neutral at JP Morgan. Shares are fairly valued given recent operating spend. $140 price target.

Dell (DELL) rated new Outperform at FBN Securities. $19 price target. Company has solid exposure to enterprise market.

Hewlett-Packard (HPQ) rated new Sector Perform at FBN Securities. $38 price target. Company's execution has been poor in recent quarters.

IBM (IBM) rated new Outperform at FBN Securities. $200 price target. Company can continue to deliver consistent growth over the next few years.

McDermott (MDR) rated new Buy at Goldman. Company was also added to the Conviction List. $26 price target. Company has pure exposure to offshore energy growth.

Motorola Mobility (MMI) downgraded at Credit Suisse from Outperform to Underperform. $19 price target. Estimates also cut, as the company is facing increased competition.

Progressive (PGR) upgraded at Ticonderoga from Neutral to Buy, Ticonderoga said. $24 price target. Company is a market leader and deserves a premium valuation.

PNC Financial (PNC) downgraded at KBW from Outperform to Market Perform. $67 price target. RBC acquisition adds integration risk to the story.

Research in Motion (RIMM) downgraded at Credit Suisse from Outperform to Neutral, Credit Suisse said. $30 price target. Estimates also cut, as the company has been slow to innovate its smartphone offerings.

More to come

This article was written by a staff member of TheStreet.

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