“The Apple Watch may be a $26 billion business by 2018, Deutsche Bank analyst Sherri Scribner predicted in a note Thursday,” Jennifer Booton reports for MarketWatch.

“However, she only reiterated a hold rating on Apple Inc.’s stock, saying a limited impact from the Watch and Apple’s heavy reliance on the iPhone offer ‘limited catalysts’ to drive shares higher over the next few quarters,” Booton reports. “Her $110 price target implies a 14% share-price decline from Apple’s $128.54 closing price on Wednesday. ”

Read more in the full article here.

MacDailyNews Take: That “hold” rating and $110 price target are perplexingly bearish.