Deutsche Bank Maintins Neutral View on Apple (AAPL) Despite Strong Results

Deutsche Bank analyst Sherri Scribner reiterated a Hold rating and $102 price target on Apple (NASDAQ: AAPL) following Q4 results in a report entitled "Even Granny Smith bought an iPhone."

Scribner commented, "AAPL delivered solid F4Q-14 results with revenue and EPS ahead of expectations. Upside was driven by iPhone and Mac sales with higher F1Q-15 guidance indicating that demand for new products is expected to remain strong in the December quarter. We have tweaked our FY-15 GMs higher, driving a modest $0.10 increase in our FY-15E EPS, but have left the majority of our model unchanged. With strong near-term growth largely factored into AAPL’s current valuation and limited catalysts ahead of the Apple Watch, we expect shares to remain range bound and maintain our Hold rating."

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 $99.76 yesterday.

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