Deutsche Bank Raising Estimates and PT on Apple (AAPL); China and iPhone Drive Upside
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Price: $305.93 +0.22%
Rating Summary:
44 Buy, 29 Hold, 9 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
44 Buy, 29 Hold, 9 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Deutsche Bank maintains a 'Buy' on Apple (NASDAQ: AAPL) price target raised from $600 to $650.
Analyst, Chris Whitmore, said, "We raise CY12 revenue/EPS to $172.3B/$50.00 (vs. prior $163.8B/$45.00) and CY13 of $197.5B/$56.00 (vs. prior $196.0B/$53.50). Further, we raise our PT to $650 which is based on ~10x CY12E EPS ex-cash (or ~10x CY11 EV/FCF); the lower end of its historical 10-70x FTM PE. We view this multiple as appropriate given AAPL’s growth & profit profile. Risks include slower consumer spending, price pressure and new smartphone/tablet competition."
"We adjust our CY12 iPhone estimates to 142M (vs. prior 125M) and CY13 to 172M (vs. prior 160M).
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 $560.28 yesterday.
Analyst, Chris Whitmore, said, "We raise CY12 revenue/EPS to $172.3B/$50.00 (vs. prior $163.8B/$45.00) and CY13 of $197.5B/$56.00 (vs. prior $196.0B/$53.50). Further, we raise our PT to $650 which is based on ~10x CY12E EPS ex-cash (or ~10x CY11 EV/FCF); the lower end of its historical 10-70x FTM PE. We view this multiple as appropriate given AAPL’s growth & profit profile. Risks include slower consumer spending, price pressure and new smartphone/tablet competition."
"We adjust our CY12 iPhone estimates to 142M (vs. prior 125M) and CY13 to 172M (vs. prior 160M).
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 $560.28 yesterday.
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