Apple Sales to SLUMP in China and 4 Fresh Wall Street Analyst Alerts
American International Group, Inc. (NYSE:AIG) could repurchase a significant amount of its shares from the U.S. Treasury, according to Bernstein’s predictions, following the insurer’s issuance of Q2 results. The firm believes AIG’s restructuring initiative is on the right track leading to the firm’s Outperform rating on the stock.
Apple Inc. (NASDAQ:AAPL): According to Bernstein’s expectations, Apple’s iPhone sales in China will fall by 1.5M units quarter-over-quarter in Q3, which indicates a downside to the current 29.9M iPhone unit sales forecast for the period. The firm believes the company may take steps to raise Chinese iPhone sales in the future. The firm keeps an Outperform rating and a $750 price target on the stock.
Tyco International Ltd.’s (NYSE:TYC) Fire & Security unit is worth $27-$31 per share, according to Bernstein. The firm thinks a private equity consortium has more of a chance to acquire Fire & Security than Schneider, Siemens, or ABB and that private equity may divest segments eventually. The firm gives Outperform rating and lowers its price target from $67 to $65 on the shares.
Allot Communications Ltd. (NASDAQ:ALLT): Following checks, Oppenheimer predicts that revenue for Allott in its June quarter will beat expectations. According to the firm, the company witnesses strong bookings activity in the Americas as well as European business stability. The firm keeps an Outperform rating on the stock.
Walter Energy, Inc. (NYSE:WLT) price target has been lowered by Brean Murray after the company’s Q2 update. The firm mentioned that costs were higher than expected at its Canadian Willow Creek mine, which was the main issue on earnings, but the impact seems to be priced into the stock already. The firm thinks shares are undervalued and keeps a Buy rating.
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