Apple price target and estimates were reduced at Citigroup. Lower guidance. Mix will impact margins, China is a concern and the delay of the introduction of the next iPhone is disappointing, Citi said. Price target is $430.
Amgen (AMGN) estimates were increased at UBS on improving operating expenses, despite the weak first quarter results, said UBS.
Coach (COH) price target and estimates were increased at UBS. High-quality beat in the fiscal third quarter, UBS said. Gross profit was better than expected. Price target goes to $59.
Cree (CREE) estimates were reduced at UBS. Reflected leveling-out of gross margins.DuPont (DD) estimates were increased at UBS. Estimates for 2013 were increased to reflect the net impact of share count and other minor changes after reporting an in-line first quarter, said UBS. Discover Financial Services (DFS) price target and estimates were increased at Citigroup given the first-quarter beat. Fundamentals in Discover's card business remain strong, and card loan growth remains above the sector's, Citi said. Price target is $48. Edwards (EW) price target and estimates were reduced at UBS. Estimates reduced through 2015 after the U.S. TAVI miss and guidance cut, said UBS. Price target goes to $64. Gannett (GCI) estimates were reduced at UBS through 2014. Slowdown in circulation revenue, said UBS. Juniper Networks (JNPR) price target and estimates were reduced at Citigroup. Carrier spending strength is being offset by continued enterprise security challenges, Citi said. Price target is $24. Molex (MOLX) estimates were reduced at UBS through 2014. Demand uncertainty and the risk related to Molex's exposure to Apple, said UBS. Norfolk Southern (NSC) price target and estimates were increased at UBS through 2014. First-quarter beat, said UBS. Price target goes to $78. PACCAR (PCAR) price target and estimates were reduced at UBS through 2014. The company lowered its forecast for Europe industry sales, said UBS. Price target goes to $47. VMware (VMW) price target was cut at Citigroup to $73 to reflect lower confidence in license growth, said Citigroup. Follow TheStreet on Twitter and become a fan on Facebook. >To submit a news tip, email: firstname.lastname@example.org.
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