Here are some of the most interesting analyst calls of the week
Maxim downgraded Apple to sell from hold, citing concerns about lower iPhone sales in 2020.
Jefferies reiterated its buy rating on Grocery Outlet Holding Corp. and said it's bullish on the discount grocery store's ability to expand further. Citi raised its price target on Huntington Ingalls Industries and said shipbuilding is in a "renaissance" due to generational investments. "We are reducing our F2Q20E iPhone revenue estimate to $27.0B, 14% below the current consensus estimate of $31.5B. We expect operating profit to decline y/y due to our below consensus iPhone view, despite ongoing growth in services and wearables. We expect overall FY20E operating profits to decline 2% y/y, as ongoing growth in services and wearables will only partially offset iPhone declines.
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