On Thurday, CLSA upgraded shares of Apple AAPL from Outperform to Buy and raised the price target from $610 to $695.
Analyst Avi Silver's upgrade is based on:
Market News and Data brought to you by Benzinga APIs- Earnings momentum poised to accelerate as users upgrade to iPhone 6.
- The analyst is forecasting mid-teens EPS growth over the next 3 quarters.
- ”Near-term earnings risk is low as an expanded iPhone lineup mitigates iPhone 6 anticipating risk,” said Silver.
- An additional $4-5 per share could be provided by iWatch.
- Upside from an expanded services platform.
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