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ISI Group is "Somewhat Disappointed" by Initial Impressions of Apple's iBeacon, But Sees Long-Term Potential

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In a report published Friday, ISI Group analyst Brian Marshall reiterated a Strong Buy rating and $600.00 price target on Apple (NASDAQ: AAPL).

In the report, ISI Group noted, “We believe iBeacon will become an attractive marketing/sales tool over time, but were somewhat disappointed by the lack of functionality and customer experience on Day 1. Just as the company did with point-of-sale (PoS) purchase systems using iPhone/iPad in the past, AAPL will likely use its own stores to showcase the benefits/possibilities of the new technology going forward. Maintain our STRONG BUY rating and $600 PT on AAPL. We expect a solid product cycle (e.g., iPhone/iPad, etc.), a CHL partnership and enhanced capital allocation to shareholders to drive shares higher in the near-term.”

Apple closed on Thursday at $566.03.

Latest Ratings for AAPL

DateFirmActionFromTo
Jan 2017OTR GlobalDowngradesNegative
Jan 2017GuggenheimInitiates Coverage OnBuy
Dec 2016PiperJaffrayAssumesOverweightOverweight

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Posted-In: Brian Marshall ISI GroupAnalyst Color Reiteration Analyst Ratings

 

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