Apple (AAPL) Has Positive Catalysts On Horizon - Citi

Citi maintains a Buy rating and $160 price target on Apple (NASDAQ: AAPL) ahead of several catalysts.

Analyst Jim Suva sees three catalysts for shares over various time frames. In the short-term he sees capital returns and reasonable expectations. In the mid-term he sees the iPhone 8 launch and tax reform aiding upside for the stock. In the long-term he sees growth opportunities in services and benefits from the likes of Apple Pay, iCloud, and Apple Care along with a boost from India exposure (which he believes is underappreciated).

He expects shares to experience material multiple expansion due to the catalysts listed above.

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 $144.02 yesterday.

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