Collins Stewart ups Apple to ‘Buy’ with $170 price target

“Collins Stewart analyst Ashok Kumar this morning upped his rating on Apple (AAPL) to Buy from Hold, setting a $170 price target,” Eric Savitz reports for Barron’s.

“Kumar contends that Apple will gain share in the smart phone segment from both Research In Motion (RIMM) and Microsoft (MSFT) Windows Mobile,” Savitz reports.

“Kumar says that a low bill of materials should enable Apple to hit a $99 price point on an 8GB iPhone, stimulating demand. He says a launch with China Mobile (CHL) ‘is an additional near-term catalyst,'” Savitz reports.

“On the Mac, he thinks the launch of Windows 7 and the lack of competitive price points could cause Apple to trail industry performance; on the other hand, he says a tablet launch could provide a positive surprise for the Mac business,” Savitz reports.

Full article here.

[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]

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