Deutsche Bank initiates Apple with ‘Buy’ recommendation, $650 price target

Deutsche Bank’s Sherri Scribner has initiated Apple coverage with a “Buy” recommendation and a $650 price target, “writing that there is “still the potential to surprise,” Tiernan Ray reports for Barron’s. “‘While our model does not currently include the benefit of a new product introduction, we believe Apple still has the ability to ‘surprise and delight’ its customers, therefore any new and successful product would provide upside to the company’s already above-market growth rates. With revenue growing faster than the market, despite the company’s large market cap, we believe shares should trade in line with market multiples,’ writes Scribner. ‘Trading below market multiples at 11x our FY-15E, we view shares as attractive.'”

Read more in the full article here.

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9 Comments

  1. The stock would have been at $650 over 2 years ago if Tim Cook and management had come out with a 5 inch iPhone and made some smart acquisitions where investors could see revenue growth. Apple could have had a 50% market share in Smartphones but they allowed Android to copy them and address all price points and screen size. Just terrible management and now Apple is playing catch up.

  2. @Peter Gittlin: Would you let a robbers coming to your house and take whatever they wanted?. If you could say yes then something wrong is going on with you.

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