In a report published Tuesday, Stifel analyst Aaron Rakers reiterated a Buy rating on Apple AAPL, and raised the price target from $540.00 to $600.00.
In the report, Stifel noted, “Apple is guiding F1Q14 at $55-$58B with a 36.5%-37.5% gross margin, ~$4.4-$4.5B opex, and a 26.25% tax rate. With a higher iPhone and iPad ship estimate and a slightly lower GM% assumption (note below def. revenue consideration), we now estimate F1Q14 at $57.0B/$13.92 (prior: $53.8B/$13.21). We adjust our F2014 and F2015 estimates from $174.8B/$40.94 and $186.3B/$47.82 to $180.27B/$42.54 and $188.57B/$48.42, respectively.”
Apple closed on Monday at $529.88.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in