“Operating independent of their investment banking counterparts, wealth management experts for UBS maintained a ‘Hold’ rating on shares of Apple Inc. this week, explaining that share pricing trends remain strong but present a less compelling opportunity from a risk reward standpoint,” Katie Marsal reports for AppleInsider.
“Andersson expects that Apple’s strong share price momentum will continue for the foreseeable future but advised clients that his “fair value” for the stock currently falls within the $111 to $145 range,” Marsal reports.
“Given the “huge number of articles written and more than 100 million hits on the web,” the UBS analyst said it’s unlikely many people have missed the launch of Apple’s new handset, the iPhone. The free marketing, he added, has massively helped kick-start the launch and he expects the Cupertino-based company to significantly beat its 10 million phone target by calendar 2008,” Marsal reports.
Full article here.