Apple, Cisco Systems, Applauded by Analysts, Not the Case for Walmart

In Thursday's Analysts' Actions, one Wall Street firm is out with positive comments on Apple (AAPL) and Cisco Systems (CSCO), while another is not so hot on Walmart Stores (WMT). Barclays started coverage of Apple with a positive outlook. The tech giant was given an OVERWEIGHT rating with a $150 price target. Analysts cite the iPhone's 'renewed pricing power, a growing services model, and low cloud displacement risk.' In other news, CEO Tim Cook yesterday announced that now, all of Apple's employees will be eligible for a stock grant program. Managers will nominate employees for the awards, and the board of directors will approve them. Cook said, 'This is one way for us to say thanks.' The same firm began coverage of Cisco Systems with an OVERWEIGHT rating and a $32 price target. Analysts said it's their 'supertanker' favorite, applauding their growth strategy. Adding to that, the company has an attractive capital allocation for industrial-focused investors. In another note, analysts are not so pleased with Walmart. Bank of America Merrill Lynch downgraded the retailer to NEUTRAL from BUY and lowered its price target to $65 from $85. This comes after Walmart on Wednesday said it expects profits to drop as much as 12 percent in fiscal 2017. Analysts said this outlook was far worse than anyone expected. Bank of America added that these profit headwinds should have an impact on potential sales going forward. TheStreet's U-Jin Lee reports in New York.