Market Overview

UPDATE: Sterne Agee Reiterates Apple at Buy with $840 PT Following Settlement

Share:
Related AAPL
What TD Ameritrade's Investor Movement Index Can Tell You About Equity Trends On Main Street
Is It Time For FANG To Step Aside And Let Old Tech Shine?
Weekly Leading Sectors Report (Seeking Alpha)

Sterne Agee reiterated its view on Apple (NASDAQ: AAPL) with a Buy rating and an $840 price target as the company settled a suit with HTC sooner than it had been expected.

Sterne Agee commented, "AAPL and HTC announced this past weekend that they have settled their litigation and will engage in a 10-year cross licensing arrangement. Financial terms were not disclosed but we believe AAPL is likely getting a net licensing fee due to its much stronger patent portfolio and we think position as undisputed inventor of the modern smart phone with touchscreen. We view this as a positive and the big question is whether Samsung and Motorola will also reach settlement agreements[.]"

Apple closed at $547.05 on Friday.

Latest Ratings for AAPL

DateFirmActionFromTo
Jan 2016BarclaysMaintainsOverweight
Jan 2016FBR CapitalMaintainsOutperform
Jan 2016Piper JaffrayMaintainsOverweight

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Reiteration Intraday Update Analyst Ratings

 

Related Articles (AAPL)

View Comments and Join the Discussion!

Get Benzinga's Newsletters