Canaccord Genuity Reiterates a 'Buy' on Apple (AAPL); Another Remarkable Qtr; Raising PT to $650
Tweet Send to a FriendGet Alerts AAPL Hot Sheet
Price: $442.79 +0.33%
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade AAPL Now!
Canaccord Genuity reiterates a 'Buy' on Apple (NASDAQ: AAPL) price target raised from $560 to $650.
Analyst, T. Michael Walkley, said, "Very strong and best-ever iPhone, iPad, and Mac sales contributed to record Apple results. Apple’s FQ2 guidance for pro forma EPS of $8.50 was also ahead of our $7.97 and consensus $8.02 estimate. We believe Apple is well positioned for very strong C2012/13 sales and earnings growth driven by new product introductions, including the pending refresh of MacBook Air, the iPad 3 launching this spring, an LTE iPhone likely in CQ3/12 and potentially Apple TV exiting C2012."
"We are raising our F2012 pro forma EPS estimate from $34.16 to $41.06 and our F2013 estimate from $40.02 to $46.50."
For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.
Shares of Apple closed at $420.41 yesterday, with a 52 week range of $310.50-$431.37.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, T. Michael Walkley, said, "Very strong and best-ever iPhone, iPad, and Mac sales contributed to record Apple results. Apple’s FQ2 guidance for pro forma EPS of $8.50 was also ahead of our $7.97 and consensus $8.02 estimate. We believe Apple is well positioned for very strong C2012/13 sales and earnings growth driven by new product introductions, including the pending refresh of MacBook Air, the iPad 3 launching this spring, an LTE iPhone likely in CQ3/12 and potentially Apple TV exiting C2012."
"We are raising our F2012 pro forma EPS estimate from $34.16 to $41.06 and our F2013 estimate from $40.02 to $46.50."
For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.
Shares of Apple closed at $420.41 yesterday, with a 52 week range of $310.50-$431.37.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- iPhone Sell-Through Tracking Ahead of Consensus, Says Morgan Stanley (AAPL)
- Samsung Galaxy S4 Hits 10M Unit Sales in Record Time (AAPL)
- Wedbush Upgrades Pacific Sunwear of California (PSUN) to Neutral
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Earnings
Login with Facebook
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!
