Apple Gets Higher Price Target; Staples and Discovery Are Downgraded

In Wednesday's Analysts' Actions, Discovery Communications (DISCA) and Staples (SPLS) get rating downgrades, while Apple (AAPL) gets a couple of price target hikes following its seconds quarter earnings release. Discovery was downgraded to SELL from NEUTRAL at UBS. The firm also lowered its price target, and believes the company has less negotiating leverage in its upcoming renewal talks with Comcast Corp (CMCSA). Staples was also downgraded by analysts at TD Securities to UNDERWEIGHT from MARKETWEIGHT. The firm cited limited earnings growth. Apple had its price target increased by analysts at Cantor Fitzgerald and Brean Capital. Cantor raised its price target to $195 from $180 with a BUY rating, while Brean Capital raised its target to $170 from $160. TheStreet's Kurumi Fukushima reports in New York.