In Thursday’s Analysts’ Actions, one Wall Street firm is hesitant to upgrade Apple (AAPL) and other firms start coverage of L Brands (LB) and The Gap (GPS). Pacific Crest reiterated its SECTOR WEIGHT rating on Apple. Analysts said expectations for iPhone sales are ‘unrealistically high.’ This comes after the tech giant said earlier this week that it’s seeing strong pre-orders on its new iPhones–the 6s and the 6s Plus. Apple said it is on track to beat last year’s iPhone first-weekend sales. However, analysts are saying demand for this year’s iPhone 6S is actually lower than last year’s demand for the iPhone 6. This is based on Google (GOOGL) search data, third party surveys and device shipment times. In another note, MKM Partners initiated coverage of L Brands with a BUY rating and a $107 price target. The company has potential to grow its margins and analysts said it’s an ’emerging global powerhouse.’ Other positives include customer service and innovation. Last but not least, the same firm started coverage of The Gap with a BUY rating and a $40 price target. The firm says Old Navy continues to be a strong brand with a great management team. Analysts are bullish on its denim and active wear. TheStreet’s U-Jin Lee reports from New York.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
