Nomura Securities Starts Apple (AAPL) at Buy, $145 PT

Nomura Securities initiates coverage on Apple (NASDAQ: AAPL) with a Buy rating and a price target of $145.00.

Analyst Jeffrey Kvaal commented, "We expect Apple to extend its share gains in 2016. We argue the strong iPhone 6 cycle still leaves plenty of scope for growth both with the 6S cycle and in China. This compares with modest growth embedded in consensus expectations."

The analyst highlighted:

• Powerful iPhone 6 cycle, but plenty of room for the 6S in 2H15
• Medium-term opportunity remains in China
• Other emerging markets, Watch, and Services are long-term opportunities.
• Our estimates exceed modest consensus 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 $122.37 yesterday.

You May Also Be Interested In

• BofA Securities Starts GE Vernova (GEV) at Neutral, 'Multiyear turnaround amid positive demand backdrop'
• UBS Downgrades Hino Motors Ltd. (7205:JP) (HINOY) to Neutral
• Craig-Hallum Assumes Guardant Health (GH) at Buy, 'We think that GH is undervalued'