“Canaccord Genuity’s T. Michael Walkley reiterated his Buy rating on the stock and upped his target price to $600 (from $570),” Tiernan Ray reports for Barron’s, “noting that he expects its devices to take market share in the second half of his year, as he sees a lack of differentiation among Android competitors and new iPhones and iPads with larger screens will encourage the company’s customer base to upgrade.”
Ray reports, “[Walkley wrote], ‘In fact, our February wireless store surveys indicated the iPhone 5s was still the most aspirational smartphone and the top selling device in the U.S. and in many international markets despite seasonally slower sales trends. Given these trends, we increase our F’14/F’15 iPhone and iPad unit estimates.'”
Full article here.