Apple (AAPL) PT Trimmed to $140 at Credit Suisse Post Q4
Credit Suisse analyst K. Garcha reiterated an Outperform rating but trimmed its price target on Apple (NASDAQ: AAPL) to $140.00 (from $145.00) following Q4 results.
Garcha commented, "We maintain our Outperform rating, and slightly adjust our above consensus CY16 EPS estimates to $10.40. Given significant concerns around the sustainability of Apple's growth, we believe the results were reassuring. With high retention rates, a superior ecosystem, and multi-product compute advantage, we believe such elevated level of earnings and FCF of around $60bn."
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Shares of Apple closed at $114.55 yesterday.