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Prudential cuts Apple to neutral

Prudential lowered its investment rating on Apple’s stock, citing valuation. The Investment firm “cut Apple to neutral from outperform, saying the shares, which have more than doubled over the past 12 months, are priced for perfection,” notes The Street.com. “Still, the brokerage played catch-up with its price target, raising it to (US)$67 from $55, a level they crossed early last month.”

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