Apple (AAPL) PT Raised to $135 at Nomura Securities
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Nomura Securities analyst Jeffrey Kvaal reiterated a Buy rating and boosted estimates and his price target on Apple (NASDAQ: AAPL) to $135.00 (from $120.00) amid healthy early demand.
"The steady positive news across geographies on the iPhone 7 launch implies demand is stronger than thought," Kvaal commented. "We believe the supply chain is preparing for upward revisions to production forecasts. We are lifting our high-end iPhone estimates and our price target to $135."
The firm now anticipate 78mn iPhones in F1Q, solidly above consensus of 75mn. They lift FY17 estimate from 230mn to 234mn (consensus 221mn).
The firm raised FY17 EPS estimate from $9.10 to $9.32 primarily on higher iPhone volumes.
Shares of Apple closed at $113.55 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Drexel Hamilton Raises Price Target on Workday (WDAY) Following 3Q Beat
- Jefferies Raises Price Target on US Physical Therapy (USPH) to $63 Following 12-Clinic Acquisition
- Cowen Cuts Price Target on Workday (WDAY) Following 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
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!