“Piper Jaffray‘s Gene Munster, who has an Overweight rating and a $767 price target, was one of the first Street analysts out of the chute, appearing on CNBC to talk about how Cook’s comments support his view the company is making a cheaper iPhone,” Ray reports. “‘The comments from Tim Cook about being very serious about cash distribution amps up the possibility they will raise the distribution after the March quarter,’ said Munster. ‘And we continue to believe that they’re coming out with this cheaper phone, and we think that Cook’s comments support that. Ultimately we think this is positive for the stock.’”
Read more in the full article here.
[Thanks to MacDailyNews Reader "Fred Mertz" for the heads up.]