UPDATE: KeyBanc Reinstates Apple (AAPL) at Overweight

December 6, 2021 3:16 AM EST
Get Alerts AAPL Hot Sheet
Price: $138.93 +1.62%

Rating Summary:
    44 Buy, 19 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 4 | Down: 13 | New: 10
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(Updated - December 6, 2021 4:36 AM EST)

KeyBanc analyst Brandon Nispel reinstates coverage on Apple (NASDAQ: AAPL) with a Overweight rating and a price target of $191.00.

The analyst comments "We initiate AAPL at OW. AAPL's user base is growing across products and geographies; its user growth fuels growth in Services, creating AAPL's ecosystem competitive advantage. We see growth and margin upside, strong shareholder-friendly capital allocation, and potential for new products and services, which create a strong investment profile. While AAPL is expensive by historical valuations, we find AAPL attractive relative to other mega-caps given AAPL's superior ROIC characteristics."

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 $161.84 yesterday.

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