Oppenheimer upgrades Apple to ‘outperform’ on positive Steve Jobs health news

“Oppenheimer & Co upgraded Apple Inc (AAPL) to ‘outperform,’ saying a sudden change of leadership is not imminent, after the company’s Chief Executive Steve Jobs said his weight loss was caused by a hormone imbalance that is relatively simple to treat,” Sandhya Menon reports for Reuters.

“The brokerage said it seems unlikely that Jobs, the board, and its counsel would disclose the prognosis of a six-month recovery if it were at odds with doctors’ expectations,” Menon reports. “‘The ‘Apple Community’ is now due an update in late spring, but until then the recovery will presumably be allowed to run its course without undue prying,’ the brokerage said.”

Menon reports, “The brokerage lowered it price target on the stock by $10 to $135.”

Full article here.

MacDailyNews Note: In pre-market trading, Apple is currently up $1.45 (1.53%) to $96.03 per share.

[Thanks to MacDailyNews Reader “Judge Bork” for the heads up.]


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