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The sharp downward revision is a notable bearish reassessment, tempered by the fact that UBS’s revised target is still above the posted price.
What happened, with direct paths to the underlying reporting
UBS cut its APP target from $790 to $414, a substantial reduction. The new target remains above the posted price of $262.82, so the revision is negative but does not imply a below-market target.
Target: $414
Posted price: $262.82
Analyst firm: UBS
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