Analyst Insights: Apple Inc, Accenture, FedEx, Micron Technology, Myriad Genetics March 23d

Apple Inc. (NASDAQ:AAPL): Oppenheimer believes that Apple’s stock can reach approximately $900 in a bullish scenario and fall to about $420 in a bearish scenario. However, the firm notes that the bearish scenario would likely only occur during a severe economic downturn in FY13-FY14. The firm sees positive catalysts for the iPhone and it maintains an Outperform rating on the stock.

Accenture plc (NYSE:ACN): Wells Fargo increased its valuation range for Accenture after the company delivered beat and raise Q2 results. The firm raised its estimates and reiterates an Outperform rating.

FedEx Corporation (NYSE:FDX): Dahlman Rose believes recent FedEx shares weakness has created a buying opportunity. The firm said FedEx continues to report impressive ground margins and that shares remain inexpensive. Shares are Buy rated with a $104 price target.

Micron Technology Inc. (NASDAQ:MU): After Micron reported higher than expected revenue for its February quarter, Wells Fargo believes that the company’s outlook has improved due to increased PC production. Wells Fargo is hopeful that DRAM prices can continue to be relatively strong, and it maintains an Outperform rating on Micron.

Myriad Genetics Inc. (NASDAQ:MYGN): Jefferies expects a Supreme Court decision for ACLU’s patent case against Myriad Genetics by 10 AM ET on Monday, March 26. The firm sees three possible outcomes: The Supreme Court grants certiorari thereby accepting the case, rejects the case, or remands the case back to the Court of Appeals for Federal Circuit for further review. Jefferies assigns a 75% probability of the court remanding the case, which it would view positively for Myriad. The firm thinks shares of Myriad Genetics shares could see 5% upside under this scenario.

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