In a report released Monday, JMP Securities analyst Alex Gauna upgrades Apple Inc. AAPL from Market Perform to Outperform with a $135 price target.
Analyst at JMP Securities are optimistic that Apple is display growth and margin leverage with its anticipated new products, new applications, and new markets. Gauna expects upside in Apple's sales and gross margins due to the company's penetration in Taiwan, IBM development, and with the expected release of the iPhone 6.
JMP raised its full year 2014 and 2015 GAAP EPS estimates from $6.25/$6.41 to $6.50/$7.85, its $135 price target is given by a full year 2016 PE multiple of 15x.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
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!
Already a member?Sign in