“Apple Inc. (AAPL) may have pulled back substantially from its highs, but one research upgrade has come out today,” Jon C. Ogg reports for 24/7 Wall St.

“S&P Capital IQ raised its rating to Strong Buy from Buy,” Ogg reports. “As recently as yesterday we saw that S&P Capital IQ had a Buy rating and a $700 price target. The call is after shares have fallen by 23% or so from their recent highs. but analyst Scott Kessler is not changing his price target objective from the $700 mark.”

Ogg reports, “S&P Capital IQ sees the fundamental story unchanged and intact and Kessler believes that Apple could decide to allocate more capital toward dividends and buybacks.”

Read more in the full article here.

Related articles:
Barclays reiterates $800 target price on Apple Inc. – November 14, 2012
Analysts reiterate $750-$950 price targets on Apple stock – November 14, 2012