“Apple Inc. (AAPL) was upgraded to buy from hold at Citigroup, which cited several meaningful product catalysts and expectations of significant gross market upside due to declines in flash memory and DRAM pricing,” Tomi Kilgore reports for MarketWatch.
Kilgore reports, “Analyst Richard Gardner kept his 12-month price target at $105. While Gardner sees some risks associated with the investigation into option back dating and with the digital right management issues, he feels the reward vs. risk profile of the stock has improved.”
Full article here.
MacDailyNews Note: Apple is currently up 1.6% to $84.55 in pre-market trading.