KeyBanc Cuts Apple Stock Rating Ahead of iPhone Launch
KeyBanc analysts have reiterated their Underweight rating on Apple Inc. (NASDAQ:AAPL) ahead of the company's September 9 iPhone launch event.
The firm set a price target of $250.00, which is below Apple's current stock price of $328.21.
According to KeyBanc, the upcoming event could be a negative catalyst for shares, with iPhone pricing expected to be the main unknown revealed at the presentation.