Raymond James Reiterates Strong Buy Rating, $675 PT on Apple on Positive Outlook

In a report published Wednesday, Raymond James analyst Tavis C. McCourt reiterated a Strong Buy rating and $675.00 price target on

. In the report, Raymond James noted, “We maintain our Strong Buy rating on shares of AAPL based on our premise that the business has substantially more sustainability to it than investors appear to appreciate, and modestly more growth in the near term driven by new carriers, underappreciated promotional activity and the two-year anniversary of a strong iPhone 4S product cycle.” Apple closed on Tuesday at $480.94.