Canaccord Genuity Reiterates a 'Buy/Top Pick' on Apple (AAPL); Prudent Ways to Return Value to Shareholders

Canaccord Genuity reiterates a 'Buy/Top Pick' on Apple (NASDAQ: AAPL) price target of $710.00.

Analyst, T. Michael Walkley, said, "We believe Apple’s dividend and buyback programs are prudent ways to return value to shareholders, open shares to new dividend-focused funds, and should be well received by investors."

"Based on recent discussions with investors, we believe the 1.8% dividend yield is in line with investor expectations of an initial 2% dividend yield. With plans to return at least $45B to shareholders in the next 3 years, we believe this enables dividend-focused investors to invest in Apple shares, potentially increasing the shareholder base."

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 $585.57 yesterday.

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