Apple (AAPL) PT Raised to $135 at Nomura Securities
- Stocks dip as earnings pour in, consumer discretionary lags
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium 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
- Rosenblatt Upgrades NETGEAR (NTGR) to Buy
- Jefferies Raises Price Target on VMware (VMW) to $91 Following Better Than Expected 3Q
- Drexel Hamilton Raises Price Target on VMware (VMW) 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!