Apple (AAPL) PT Raised to $196 at Piper Jaffray
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Price: $169.89 +0.51%
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Piper Jaffray raised its price target on Apple (NASDAQ: AAPL) to $196.00 (from $190.00) while maintaining a Overweight rating.
Analyst Michael Olson reiterates that clients should own the stock on the potential for a strong iPhone cycle, rising ASPs and favorable service revenue trajectory.
The PT comes from a newly revised CY 2018 EPS estimate of $11.10, up from $10.68 previously but the multiple of 15x on CY 2018 EPS estimate remains unchanged.
FY 2017 EPS estimate falls from $9.01 to $8.99 and FY 2018 EPS estimate rises from $10.68 to $11.11.
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