DA Davidson Reiterates Buy Rating on Apple (AAPL)
DA Davidson analyst Tom Forte reiterated a Buy rating and $245.00 price target on Apple (NASDAQ: AAPL) following the company's event. The two most significant insights from Monday's Apple event are the company's strategies on privacy and advertising. Playing to one of its strengths, Apple is making a privacy-related play with its de facto "opt-in" advertising efforts and in payments with its new co-branded credit card.
Forte isa also recommending investors purchase shares of Roku, which has positioned itself to leverage Apple's streaming-video efforts. DA Davidson reiterated a BUY rating and $80 price target, based on a discounted cash flow analysis, including a long-term adjusted EBITDA margin forecast of 35.0% versus 4.4% in 2018.
Shares of Apple closed at $188.17 yesterday.