Market Overview

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

Related AAPL
An Ode To The First Smartwatch: It's Older Than You Think
Why Do Different Companies Have Different Fiscal Years?
Apple MacBook Pro Refresh Unlikely To Boost Top Line Much (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

Oct 2016Goldman SachsMaintainsBuy
Oct 2016Credit SuisseMaintainsOutperform
Oct 2016PiperJaffrayMaintainsOverweight

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Reiteration Analyst Ratings


Related Articles (AAPL)

View Comments and Join the Discussion!