Canaccord Genuity Reiterates Buy Rating, $797 PT on Apple

In a report published Monday, Canaccord Genuity reiterated its Buy rating and $797.00 price target on Apple

. Canaccord Genuity noted, “Following its record patent victory over leading Android smartphone OEM Samsung, we believe Apple has an even stronger competitive market position ahead of its iPhone 5 and other anticipated product launches. We believe Apple's industry-leading software ecosystem and its leading hardware expertise will underpin a strong multi-year product cycle for its key products. We believe Apple is well positioned for very strong F2013 sales and earnings growth driven by new product introductions, including the recent refresh of the MacBook Air and Pro series, an LTE iPhone 5, iPad Mini, and potentially Apple TV in F2013. We reiterate our BUY rating and $797 price target.” Apple closed on Friday at $663.22.