Apple receives analyst downgrade but higher price target
The S&P 500 continues to trade sideways with a 0.6% gain. Highlighting a notable analyst recommendation, Apple (AAPL 437.70, -1.00, -0.2%) was downgraded to Neutral from Buy at BofA Securities, but the firm did raise its price target to $470 from $420. That represents a 7% upside from current levels. Overseas, the major European indices closed in the green. Germany's DAX gained 0.4%, UK's FTSE gained 1.1%, and France's CAC gained 0.9%. The Europe Stoxx 600 advanced 0.4%.