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In a report released Monday, Barclays analyst Ben Reitzes upgrades Apple
AAPL from Equal Weight to Overweight while raising the Barclays price targets from $95 to $110.
Analyst at Barclays hold confident on Tim Cook's strategy and believe other shareholders are starting to gain confidence as well from the company's passed uncertainty displayed in March. Reitzes believes market share opportunity is presented for in Samsung's recent decline. Barclays holds high expectations on Apple's new products into 2015.
Barclays forecasts Apples 2015 EPS to be $7.10 based on a 13 percent growth in revenue to $207.2 billion. Its price target of $110 is given by a 14x FY 2016 EPS estimate of $7.63.
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