UBS Reiterates a 'Buy' on Apple (AAPL); A Growth Play At Value Multiples
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Price: $442.93 +2.23%
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 6
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 6
Trade AAPL Now!
UBS reiterates a 'Buy' on Apple (NASDAQ: AAPL), raises PT from $415 to $465.
UBS analyst says, "Despite our forecasted CY11 EPS growth of 31% y/y (FY11 growth of 53.5% y/y), AAPL shrs trade at ~15x our EPS est (5-yr low was 14x & 5-yr avg of 24.7x) & ~12x ex-cash. What we expect could be the largest pre-order & sales ever experienced by Verizon Wireless for the iPhone, further expansion to other CDMA-based operators, cont’d dominance in tablet share, & cont’d strength from geographic expansion w/ incremental growth opportunity from further halo effects, we see shares as offering compelling value."
"We raise our FY11 rev/EPS estimates to $101.7b/$23.25 from $93.7b/$20.08."
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, with a 52 week range of $190.25-$348.48.
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UBS analyst says, "Despite our forecasted CY11 EPS growth of 31% y/y (FY11 growth of 53.5% y/y), AAPL shrs trade at ~15x our EPS est (5-yr low was 14x & 5-yr avg of 24.7x) & ~12x ex-cash. What we expect could be the largest pre-order & sales ever experienced by Verizon Wireless for the iPhone, further expansion to other CDMA-based operators, cont’d dominance in tablet share, & cont’d strength from geographic expansion w/ incremental growth opportunity from further halo effects, we see shares as offering compelling value."
"We raise our FY11 rev/EPS estimates to $101.7b/$23.25 from $93.7b/$20.08."
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, with a 52 week range of $190.25-$348.48.
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
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