Apple (AAPL) PT Raised to $135 at Brean Capital
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Brean Capital analyst Ananda Baruah reiterated a Buy rating and raised its price target on Apple (NASDAQ: AAPL) to $135.00 (from $125.00) following results.
Baruah commented, "AAPL Dec Q guidance suggests that not only are iPhone units continuing to gain strength (as expected, likely now in the 78M - 80M range), they are also mixing up to 7+'s more than anticipated (we believe perhaps as much as high-30% of iPhone ships are Plus+ models, vs. ~1/3 typically). Moreover, we believe that Mar Q iPhone ships will be ~55M, with similar mix dynamics, which suggest ongoing ASP & GM mix impact. As a result of the incremental momentum, we're raising our TP to $135 from $125, or 13.5x P/E (just above AAPL’s median multiple of 12.5x) the $10.00 in normalized ’18 EPS we believe they can generate."
Shares of Apple closed at $118.25 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MKM Partners Raises Price Target on Broadcom Ltd. (AVGO) to $207 Following 4Q Beat
- Jefferies Raises Price Target on Casey's General Stores (CASY) Following 2Q Earnings Report
- UBS Raises Price Target on Dick's Sporting Goods (DKS) to $69
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesBrean Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!