UBS Raises PT and Estimates on Apple (AAPL); Foo Fighters Biggest Surprise
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Price: $423.00 --0%
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 19
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 19
Trade AAPL Now!
UBS maintains a 'Buy' on Apple (NASDAQ: AAPL) price target of $780.00 (from $740.00).
Analyst, Steven Milunovich, said, "We are increasing our F4Q iPhone units from 22mn to 26mnn with the expectation that Apple ships 8-10mn iPhone 5 units before the end of the quarter, increasing our F4Q GAAP EPS from $8.05 to $8.91. Conversely, we are reducing our Dec quarter phone shipments from 48mn to 44mn and cutting F1Q/13 EPS from $15.95 to $15.03. On a full-year basis, our F2012 EPS increases from $43.51 to $44.37 and for F2013 declines from $54.68 to $53.76."
"The stock has discounted the announcements and is up 15% from its low after earnings. Still, we are increasing our price target from $740 to $780 per share. Strong iPhone adoption in the next six months and an iPad mini suggest the EV/FCF multiple can expand to 11x our C2013 estimates."
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 $669.79 yesterday, with a 52 week range of $354.24-$683.29.
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Analyst, Steven Milunovich, said, "We are increasing our F4Q iPhone units from 22mn to 26mnn with the expectation that Apple ships 8-10mn iPhone 5 units before the end of the quarter, increasing our F4Q GAAP EPS from $8.05 to $8.91. Conversely, we are reducing our Dec quarter phone shipments from 48mn to 44mn and cutting F1Q/13 EPS from $15.95 to $15.03. On a full-year basis, our F2012 EPS increases from $43.51 to $44.37 and for F2013 declines from $54.68 to $53.76."
"The stock has discounted the announcements and is up 15% from its low after earnings. Still, we are increasing our price target from $740 to $780 per share. Strong iPhone adoption in the next six months and an iPad mini suggest the EV/FCF multiple can expand to 11x our C2013 estimates."
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 $669.79 yesterday, with a 52 week range of $354.24-$683.29.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
UBS, Earnings
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