Market Overview

UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on Apple

Share:
Related AAPL
Big Data, Big Profits? Find The Bottom Line Through Unique Datasets
Banking In 2020: How Will Fintech Revolutionize Banks And Investing?
Eye On Tech: Twitter Redefines 140 Characters, And Apple Reportedly Works On An Echo Rival (Seeking Alpha)

In a report published Monday, Jefferies & Company reiterated its Buy rating on Apple (NASDAQ: AAPL), but lowered its price target from $900.00 to $800.00.

Jefferies noted, “We maintain our CQ4 and CQ1 estimates as builds and demand remain well above consensus. We shift our iPhone 5S launch timing from CQ4 to CQ3 (boosting FY13 EPS) but trim iPad units. In FY14 we see decelerating growth and, barring opex cuts, we think FY14 could see negative margin leverage, which likely leads to multiple compression. We introduce above-consensus FY14 estimates but cut our target from $900 to $800.”

Apple closed on Friday at $533.25.

Latest Ratings for AAPL

DateFirmActionFromTo
May 2016UBSMaintainsBuy
Apr 2016Brean CapitalMaintainsBuy
Apr 2016BarclaysMaintainsOverweight

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

Related Articles (AAPL)

View Comments and Join the Discussion!