Prudential Equity Group downgraded its rating for Appleis stock from overweight to neutral-weight on Friday, according to MarketWatch. Although Prudential expects a strong first quarter and fiscal year in 2006, it feels that Appleis stock already reflects this. High expectations from investors may also add risk to Appleis profile.
After Prudentialis report was released, Appleis stock value dipped slightly from its Thursday closing at US$61.64. It is currently at $60.63, down 1.21 (1.97%) in pre-market trading.