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Apple Is a Success Story; Price Target Changes on Alibaba, Twitter

In Wednesday's Analysts Actions, Apple (AAPL) is getting favored by Wall Street analysts while others make some price target changes on Alibaba (BABA) and Twitter (TWTR).
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Apple (AAPL) is getting favored by Wall Street analysts while others make some price target changes on Alibaba (BABA) and Twitter (TWTR). Apple's rating got a boost at Pacific Crest Securities. The firm upgraded the tech giant to OVERWEIGHT from SECTOR WEIGHT with a $142 price target. Here's why: its latest quarterly earnings, reported Tuesday afternoon, beat analysts' estimates on both the top and bottom line. Analysts are overall bullish since Apple sold 48 million iPhones in the recent quarter, topping estimates. Given these reasons, they said Apple is a "sustained share gainer" in the smartphone market. In a separate note, Alibaba's price target got a lift at Cantor Fitzgerald to $90 from $88. Thanks to stronger-than-expected quarterly results, reported Tuesday morning, analysts maintained their BUY rating on the stock. This goes to show that the company is doing well despite concerns around China's economy. The same firm however, lowered Twitter's price target to $45 from $50 but still kept its BUY rating. Even though Twitter reported stronger-than-expected earnings on Tuesday, monthly active users came in at 320 million, slightly under expectations. Adding to this, the company gave a weak fourth quarter revenue outlook. TheStreet's U-Jin Lee reports from Wall Street.

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