Skip to main content

A customer enters the new Apple store, which is the world's largest, on its opening day at Covent Garden in London, in this August 7, 2010 file photograph.

SUZANNE PLUNKETT/REUTERS

Oppenheimer & Co. just cut its target price on Apple Inc. , in a rare downgrade for the stock.

Analyst Ittai Kidron's new target price is $420 (U.S.), down from $450, according to a quick scan of the Bloomberg terminal.

That also shows that none of the 52 other analysts covering Apple has cut their target price in recent months (indeed, most have raised them), so he's definitely swimming against the tide here.

Story continues below advertisement

Apple has a "buy" rating from 48 of the analysts and a "hold" rating from five (and zero "sells"). The 12-month consensus target price is $457.24.

Mr. Kidron still rates it "outperform."

(Tip of the hat to Business Insider for pointing this out.)

Report an error Licensing Options
About the Author
Deputy head of Audience

Sonali Verma is deputy head of audience at the Globe and Mail. She is a business journalist with more than 20 years of experience, mainly in digital media.She was previously the Globe and Mail’s senior editor in charge of audience engagement, overseeing its homepages as well as social media operations. More

Comments are closed

We have closed comments on this story for legal reasons. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

Combined Shape Created with Sketch.

Combined Shape Created with Sketch.

Thank you!

You are now subscribed to the newsletter at

You can unsubscribe from this newsletter or Globe promotions at any time by clicking the link at the bottom of the newsletter, or by emailing us at privacy@globeandmail.com.