Market Overview

Morgan Stanley Reiterates Overweight Rating, $630 PT on Apple on Higher Cash Yield

Share:
Related AAPL
Apple's Spotify Competitor: What The Blogosphere Is Saying
Justin Pulitzer Says Apple Shares Will Be 'Range Bound'
Disney Wearables: A Kid's Apple Watch, But Better? (Investor's Business Daily)

In a report published Wednesday, Morgan Stanley reiterated its Overweight rating and $630.00 price target on Apple (NASDAQ: AAPL).

Morgan Stanley noted, “Higher cash return could be a positive catalyst. IT Hardware stocks with higher cash return historically outperformed peers. To match the average FCF payout of the S&P IT sector, Apple needs to return $28B, which implies a 6% total yield (68% of FY13 FCF) versus MSe of $15B.”

Apple closed on Tuesday at $467.90.

Latest Ratings for AAPL

DateFirmActionFromTo
Apr 2015Canaccord GenuityMaintainsBuy
Apr 2015SusquehannaMaintainsPositive
Apr 2015JefferiesMaintainsHold

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Reiteration Analyst Ratings

 

Related Articles (AAPL)

Around the Web, We're Loving...

Get Benzinga's Newsletters