Wall Street analysts are out with negative comments on both Apple (AAPL) and The Hershey Company (HSY), but positive on Coach (COH). Apple stock is lower again on Wednesday, continuing a slide that started after the company reported its earnings two weeks ago. Bank of America Merrill Lynch downgraded the shares to NEUTRAL from BUY. Analysts are concerned about its growth in China, as iPhone sales are showing signs of slowing down. The firm also lowered its price target to $130 from $142. But long term, analysts say the stock is still a winner. The Hershey Company stock was also downgraded to MARKET PERFORM from OUTPERFORM today. Analysts at Wells Fargo Securities cited stiffer macro headwinds in China, which are likely to hurt international sales. They also added that the U.S. candy/mint/gum category is slowing. Meanwhile, Cantor Fitzgerald upgraded Coach shares to HOLD from SELL. The company is revitalizing its brand, but continues to face aggressive competition, according to the firm. Analysts lifted their price target to $33 from $31. TheStreet’s U-Jin Lee reports from New York.
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