Gleacher & Co. Maintains a 'Buy' on Apple (AAPL); Margin Structure Headed North Once Again...Target to $400

January 19, 2011 11:20 AM EST Send to a Friend
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Price: $103.00 +3.25%

Rating Summary:
    55 Buy, 10 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 13 | New: 40
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Gleacher & Co. maintains a 'Buy' on Apple (NASDAQ: AAPL), raises PT from $355 to $400.

Gleacher analyst says, "Clearly with AAPL shares down only approximately 2% on Tuesday post Steve Jobs' announced medical leave, the investment community was anticipating a blowout quarter...they certainly got it. We believe highlights of the quarter include: 1) improved gross margin trajectory, and 2) robust iPad demand."

"We are raising our CY11 estimates to $104.1bil in revenue with gross margin of 39.4% and EPS of $24.50 (vs. previous levels of $91.4bil, gross margin of 37.8% and EPS of $20.00)."

For more ratings news on Apple click here and for the rating history of Apple click here.

Shares of Apple closed at $340.65 yesterday.


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