Brean Capital Positive on Apple (AAPL) Amid WWDC Updates

Brean Capital analyst Ananda Baruah reiterated a Buy rating and $170 price target on Apple (NASDAQ: AAPL) after the company held its World Wide Developers Conference yesterday where highlights included Beats1 Radio, WatchOS2, and new Apple Pay features.

Baruah commented, "We particularly liked that 1) AAPL has managed to combine the features of Soundcloud, Ping, Spotify, and Pandora into a single app, 2) that just 6 weeks after Watch availability AAPL is already coming out with serious enhancements, including app logic on the watch itself, compared to keeping it on the Phone; huge for creating new watch applications, and 3) Apple Pay coming to the UK, and importantly now honoring retailer credit cards and loyalty cards."

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 $127.80 yesterday.

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