Market Overview

Barclays Reiterates Overweight on Apple on Potential for New iPad

Share:
Related AAPL
Did Apple Send Mixed Messages About Its Apple Watch Launch?
FBR Sets $185 Target On Apple
Apple: Bear Case From A Bull (Seeking Alpha)

In a report published Tuesday, Barclays analyst Ben A. Reitzes reiterated an Overweight rating and $540.00 price target on Apple (NASDAQ: AAPL).

In the report, Barclays noted, “We believe one of Apple's big issues right now is that it is considered a ‘one-product' story again. iPads and Macs seem to be almost forgotten at this point as estimates seem to favour the downside. While iPhone has a bigger TAM and this shift is good for margins, we believe that Apple clearly needs more than just one growing product to warrant a higher multiple. We think the real next product may be right under our nose in the iPad - but not in its current form. The iPad already was a transformational 'second product' from 2010 through 2012 – and could be again in our view – but the product must change given new competition.”

Apple closed on Monday at $487.75.

Latest Ratings for AAPL

DateFirmActionFromTo
Apr 2015FBR CapitalInitiates Coverage onOutperform
Apr 2015Maxim GroupInitiates Coverage onHold
Apr 2015Raymond JamesDowngradesOutperformMarket Perform

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Barclays Ben A. ReitzesAnalyst Color Reiteration Analyst Ratings

 

Related Articles (AAPL)

Around the Web, We're Loving...