Tag: needhamandco

Needham & Co today downgraded Apple shares to “hold” from “buy,” reports CBS Marketwatch. Analyst Charles Wolf told clients that “with all of the possible contributors to Apple’s share price factored in — the iPod, a possible flash-based iPod and the widely discussed halo effect — our valuation model produces a fair price of $70 per share.”

Analysts at Needham & Co published a research note yesterday whereby they reiterated their “buy” rating on Apple, and raised the company’s target price from US$43 to $62, notes Newratings.com. This follows on the heels of Piper Jaffray’s announcement Monday that it increased Apple’s price target to US$100 from $52, which caused Apple’s stock price to surge.