Salient to Investors:
David Chalupnik at Nuveen Asset Mgmt said market fundamentals are looking better. Scott Minerd at Guggenheim Partners said the fiscal cliff is creating value in equities as too much negativity is priced in – the fiscal cliff is a non-event.
Steven Milunovich at UBS cut his price estimate for Apple to $700 from $780 on concern that growth may slow for the iPhone and iPad as the company is starting to curb production of the iPhone. Peter Misek at Jefferies lowered his target to $800 from $900.
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