Sanford Bernstein’s Toni Sacconaghi upgrades Apple to ‘Buy,’ sets price target at $135

Sanford Bernstein analyst Toni Sacconaghi has upgraded Apple to “Buy.” Sacconaghi also cut back his price target on the stock to $135 from $175.

Dan Gallagher reports for MarketWatch, “In a note to clients, analyst Toni Sacconaghi said the stock is now ‘overly discounted,’ and that the company’s short-term financials are likely to remain strong despite an economic slowdown. ‘While short-term uncertainty persists, we believe that the stock’s overall risk-reward is compelling at current levels,’ the analyst wrote.”

Full article here.

Even a blind squirrel… But, a 12-month price target of just $135? Does that seem a bit too low to you, too?

It’s unsurprising that he’s a bit off; Sacconaghi has quite the inglorious track record of Apple “analysis.”

7 Comments

  1. Anyone who would ride the backs of the poor by purchasing stock in an evil American corporation deserves to be disappointed in its price. Death to investors! Death to capitalism! Death to inequality in any form! Equal misery for everyone!

  2. who still believe analysts..? is that a joke..?

    ok when they say apple will be between 235 and 285 it goes to 85.
    so now when they say it will go to 135 be sure we will see 250…

    Sure apple will outperform because they are pure genious..in recession times people will probably buy something great from apple to compensate the “blues”.

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