Apple Upgraded to “Strong-Buy” at Raymond James (AAPL)
Apple (NASDAQ: AAPL) was upgraded by stock analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a report issued on Monday, Analyst Ratings Network.com reports. The firm currently has a $600.00 target price on the stock. Raymond James’ price objective would indicate a potential upside of 51.31% from the company’s current price. The analysts noted that the move was a valuation call.
AAPL has been the subject of a number of other recent research reports. Analysts at Susquehanna cut their price target on shares of Apple from $480.00 to $440.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at Oppenheimer cut their price target on shares of Apple from $480.00 to $460.00 in a research note to investors on Tuesday, June 25th. They now have an “outperform” rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Apple from $435.00 to $450.00 in a research note to investors on Monday, June 24th. They now have a “market perform” rating on the stock.
Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, forty-four have given a buy rating and three have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $554.56.
Shares of Apple (NASDAQ: AAPL) traded up 1.74% during mid-day trading on Monday, hitting $403.445. Apple has a one year low of $385.10 and a one year high of $705.07. The stock’s 50-day moving average is currently $431.. The company has a market cap of $378.7 billion and a P/E ratio of 9.46.
Apple (NASDAQ: AAPL) last released its earnings data on Tuesday, April 23rd. The company reported $10.09 EPS for the quarter, beating the Thomson Reuters consensus estimate of $10.07 by $0.02. The company had revenue of $43.60 billion for the quarter, compared to the consensus estimate of $42.59 billion. During the same quarter in the prior year, the company posted $12.30 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. Analysts expect that Apple will post $39.51 EPS for the current fiscal year.
Apple Inc (NASDAQ: AAPL) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications.
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