“Morgan Stanley analyst Katy Huberty this morning repeated her Overweight rating on the stock, lifting her target to $720 from $515 and adding the stock to her firm’s Best Idea’s List,” Eric Savitz reports for Forbes.
“She also moved up her estimates: for the September 2012 fiscal year, she goes to $46.52, from $44.04; for FY 2013, $57.57, from $49.50; and for FY 2014, $66.85, from $58.90,” Savitz reports. “‘Investors still underestimate the potential earnings upside at Apple,’ she writes in a research note. ‘Apple trades at 9.5x our base case and 7.1x our bull case calendar year 2013 estimated EPS and Morgan Stanley’s ‘What’s in the Price’ analyzer suggests AAPL shares discount just 2% growth longer-term.'”
Savitz reports, “Huberty adds that her bull case scenario is for calendar 2013 profits of $80 a share – and a stock price of – are you sitting down? – $960. And she insists that the idea is not far-fetched.”
Read more in the full article here.
If Katy Huberty thinks it is going up I have to be worried that I agree with her.
Don’t worry, a broken clock is right twice a day, or so I’ve been told.
Katy “I always have the worst earnings predictions” Huberty?
Morgan Stanley and certainly Katy Huberty losing all credibility…
““She also moved up her estimates: for the September 2012 fiscal year, she goes to $46.52, from $44.04”
Uhm, this fiscal year is going to be $50 to $55 eps. She’s going to need to up her target some more.
I think Katy finally hopped on the clue train.