UPDATE: Bank Of America Reiterates On Apple As Aggressive Buyback Should Lead To EPS Revisions

In a report published Friday, Bank of America analyst Scott D. Craig reiterated a Neutral rating on Apple AAPL, and raised the price target from $575.00 to $590.00. In the report, Bank of America noted, “We rate Apple Neutral on: (1) lack of a ‘lower-end' iPhone and price points that will be too high to increase penetration in emerging markets (2) no China Mobile (CM) agreement, (3) a likely less than expected impact from China Mobile, when/if a partnership is announced, (4) another ‘evolutionary but not revolutionary' iPhone product launch, and (5) risk to near term GM% estimates, given typical lower GM% on new iPhones (in this case both 5C and 5S, as opposed to only one new launch).” Apple closed on Friday at $535.92.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsBank of AmericaScott D. Craig
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!