Market Overview

Topeka Capital Markets Reiterates Buy Rating, $1,111 PT on Apple

Share:
Related AAPL
Benzinga's M&A Chatter for Thursday May 26, 2016
Who Just Acquired A Multi-Billion-Dollar Stake In Apple?
Whether We Want It Or Not, We All Need A Break (Seeking Alpha)

In a report published Wednesday, Topeka Capital Markets reiterated its Buy rating and $1,111.00 price target on Apple (NASDAQ: AAPL).

Topeka Capital Markets noted, “Our top large-cap stock pick in the IT Hardware & Networking group for 2013 is Apple. The negative sentiment around the stock has reached epic levels that we haven't seen in recent memory and yet we believe the product portfolio has never been stronger. In August 2011, Steve Jobs indicated that ‘Apple's brightest and most innovative days are ahead of it' and we agree. As such, we believe the risk-reward around Apple remains extremely attractive and the stock is now trading at just 6.8x (ex-cash) our CY13 EPS estimate.”

Apple closed on Tuesday at $85.92.

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: Topeka Capital MarketsAnalyst Color Reiteration Analyst Ratings

 

Related Articles (AAPL)

View Comments and Join the Discussion!