Credit Suises Sees at Least $10 EPS Power from Apple (AAPL) in 2016; Sees $200B Cash Return

Credit Suisse analyst K. Garcha reiterated an Outperform rating and $130 price target on Apple (NASDAQ: AAPL) following strong Q1 results. The firm is also maintaining their above consensus EPS CY15/16 estimates of $9.25/$10.04.

Garcha said given solid and sustainable iPhone volume base and sizeable increase in scope for cash returns, they see at least $10 EPS power in CY16.

On cash returns, the analyst said given that FCF now stands at a sustainable $50bn per year, there is scope to increase the cash return program to $200 billion and extend it for an additional 3 years.

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 $109.14 yesterday.

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