Caris & Co. has initiated coverage of Apple Computer Inc. with an “Above Average” rating, setting a 12-month target price of $100.
Caris considers Apple “a winner” in the consumer electronics space and sees two keys for Apple in 2007, the long- and oft-rumored “iPhone” and a widescreen video iPod.
Apple shares today closed at $87.04, down $2.79, or -3.11%.
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