The Ratings Game: Apple stock target cut on downbeat hardware revenue outlook

The price target on Apple Inc.’s stock was lowered Tuesday at KeyBanc Capital to below the average target on Wall Street, amid signs suggesting fiscal third-quarter hardware revenue will fall even more than what’s already expected.

The technology giant’s stock AAPL tacked on 0.3% in premarket trading. On Monday, the stock pulled back 1.5% to snap a five-day win streak in which it rallied 7.5%.

KeyBanc…