From TheFly, which snagged the note Tuesday from analyst Brandon Nispel:
KeyBanc analyst Brandon Nispel lowered the firm's price target on Apple to $173 from $191 and keeps an Overweight rating on the shares. The firm's Key First Look Data suggests Apple Hardware revenue is below consensus for Q3, Nispel tells investors in a research note. The analyst sees a difficult setup for Q3, though believes that is largely priced in, and says supply chain constraints and China lockdowns alleviating.
Maintains Overweight rating, lowers price target to $173 from $191.
My take: The cuts roll in. KeyBanc follows Goldman Sachs (to $130) and Monness Crespi Hardt ($174).