Market Overview

Here's What Every Wall Street Analyst Did With Apple After Its Q1 Blowout

Here's What Every Wall Street Analyst Did With Apple After Its Q1 Blowout
Related AAPL
Berkshire Hathaway's 2017: Tax Reform Windfall, Insurance Losses From Hurricanes, Younger Executives Promoted
7 Big Companies That Could Tap The IPO Markets In 2018
Apple to store iCloud keys in China (Seeking Alpha)

Apple Inc.'s (NASDAQ: AAPL) impressive first-quarter results sent a slew of analysts to their pencil sharpeners Wednesday to set higher targets.

At least 17 brokerages raised price targets on the stock, according to Reuters, with most maintaining Buy ratings.

The company changed hands recently at $116.84, up more than 7 percent.

Cantor may see the highest value, raising its price target to $160, from $143.

Apple carries an average target price of $122.77 a share among the 50 Apple analysts tracked by FactSet: 38 maintain Buy or Overweight ratings, 10 are at Hold and two at Sell.

Maynard Um of Wells Fargo maintained a Market Perform rating and said Apple is faced by increased uncertainty and a slowing growth rate.

Um said following the current quarter, Apple's results will see increasingly difficult year-over-year comparisons and an increasing reliance on upgrades to existing products.

But Um followed the herd in raising his 2015 forecast, boosting his earnings estimate 9 percent to $8.58 a share.

Um made no mention of Apple's $179 billion cash hoard, but a number of analysts eyed the stash with buybacks in mind.

Howard Silverblatt of S&P Dow Jones Indices pointed out to USA Today that its enough to give every American $556.

RBC Capital Markets analysts think Apple may increase its capital return program to more than $200 billion over three years, according to Reuters.

Apple launched a $130 billion buyback in April that is slated for completion at the end of 2015.

Brokerages with Buy or similar ratings that raised price targets on Apple Wednesday included:

•BMO, which raised its target to $130 a share, from $123.

•Goldman Sachs moved its target to $130 a share, from $124.
•RBC, to $130, from $123.

•UBS, to $130, from $125.

•JP Morgan, to $140, from $112.

•Janney, to $127, from $117.

•Baird, to $134, from $129.

•Sanford Bernstein to $135, from $122.

•Raymond James to $124, from $110.

•Macquarie to $130, from $122.

•Cantor to $160, from $133.
•Evercore ISI to $140, from $135.

•Cowen to $115, from $113.

•Susquehanna to $145, from $135.

•BTIG to $150, from $135.

•FBN to $140, from $130.

Image credit: MarshalN20, Wikimedia

Latest Ratings for AAPL

Feb 2018Raymond JamesReinstatesMarket Perform
Feb 2018Goldman SachsInitiates Coverage OnNeutral
Feb 2018Hilliard LyonsUpgradesLong-Term BuyBuy

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Analyst Color Long Ideas Price Target Analyst Ratings Trading Ideas Best of Benzinga


Related Articles (AAPL)

View Comments and Join the Discussion!