Apple Downgraded, Palo Alto Gets Target Boost, ANN Initiated

In Friday's Analysts' Actions, Apple (AAPL) is downgraded, Palo Alto (PANW) gets a price target boost and Ann Inc. (ANN) is initiated. Apple was downgraded at Deutsche Bank to a HOLD from a BUY rating. The price target was lowered to $102 from $105 because the analysts there think the tech giant's 'ability to surprise consumer base is limited.' The parent company of Ann Taylor stores (ANN) is now being covered at Barclays with an EQUAL WEIGHT rating and a price target of $42. The firm thinks the retailer offers a well-balanced portfolio of brands in varying life stages. Palo Alto got its price target lifted at Piper Jaffray to $120 from $110. The firm reiterated its OVERWEIGHT rating for the stock and says the company will drive further to the upside with its endpoint product 'Traps'.