Selected stock price target news of the day - January 2nd, 2024

By: Matthew Otto

Apple Downgraded: iPhone and Mac Sales Concerns

Apple experienced a setback as Barclays downgraded its rating to Underweight. Analysts, led by Tim Long, cited weakening sales of iPhones and Mac computers as the primary reasons for the downgrade. The latest sales checks revealed a softness in iPhone 15 sales, particularly in China and developed markets.

Barclays analysts also pointed out a potential slowdown in the growth of services, such as the App Store, for the coming year. Additionally, the note highlighted a perceived risk to services in 2024. Apple’s 2023 was somewhat marred when the U.S. temporarily banned the sale of its newest Apple Watch due to patent issues.

Analyst Downgraded Rating and Price Target

Barclays Analyst Tim Long Downgraded to Underweight rating and Price Target from $161 to $160.

Which Analyst has the best track record to show on AAPL?

Analyst Toni Sacconaghi (BERNSTEIN) currently has the highest performing score on AAPL with 62/70 (88.57%) price target fulfillment ratio. His price targets carry an average of $16.25 (9.09%) potential upside. Apple stock price reaches these price targets on average within 204 days.

Moderna: A Comeback Forecast

Moderna has experienced a turnaround as Oppenheimer analyst, Hartaj Singh, upgraded the stock to Outperform. Despite a decline in value over the past year due to diminishing interest in Covid-19 vaccine sales, analysts are optimistic about Moderna’s future. With a revised price target of $142, they cite increased visibility on Covid-19 vaccine sales, a well-structured framework for operating expenses, and anticipate Moderna becoming a five-product commercial company by 2026, driven by catalysts in 2024 and 2025, including advancements in respiratory syncytial virus and influenza vaccines.

Oppenheimer analysts acknowledge a possible sales low-point in 2024 due to vaccine fatigue and market complexities but foresee a rebound in 2025 as education and awareness around Covid-19 continue to grow.

Moderna Surges as Analyst Upgrades Rating

Oppenheimer analyst Hartaj Singh upgraded to Outperform rating and set a $142 price target.

Which Analyst has the best track record to show on MRNA?

Analyst Salveen Richter (GOLDMAN) currently has the highest performing score on MRNA with 13/18 (72.22%) price target fulfillment ratio. Her price targets carry an average of $153.47 (197.95%) potential upside. Moderna stock price reaches these price targets on average within 60 days.