Societe Generale Upgrades Apple to Buy (AAPL)
Apple (NASDAQ:AAPL) was upgraded by research analysts at Societe Generale from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $105.00 target price on the stock. Societe Generale’s target price would suggest a potential upside of 13.88% from the stock’s previous close.
Apple (NASDAQ:AAPL) traded up 0.02% during mid-day trading on Tuesday, hitting $92.222. The stock had a trading volume of 14,706,125 shares. Apple has a one year low of $55.5529 and a one year high of $95.05. The stock has a 50-day moving average of $87.96 and a 200-day moving average of $79.76. The company has a market cap of $556.1 billion and a price-to-earnings ratio of 15.47.
Apple (NASDAQ:AAPL) last released its earnings data on Wednesday, April 23rd. The company reported $11.62 EPS for the quarter, beating the Thomson Reuters consensus estimate of $10.13 by $1.49. The company had revenue of $45.65 billion for the quarter, compared to the consensus estimate of $43.55 billion. During the same quarter in the prior year, the company posted $10.09 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts expect that Apple will post $6.31 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company raised their price target on shares of Apple from $90.00 to $102.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at BMO Capital Markets reiterated an “outperform” rating on shares of Apple in a research note on Friday. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Apple in a research note on Friday. They now have a $102.00 price target on the stock, up previously from $86.00. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirty have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $109.49.
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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