“Analyst Ben A. Reitzes said in a note to investors, a copy of which was obtained by AppleInsider, that he’s ‘back on board’ with Apple thanks in part to renewed confidence in the company’s management,” Neil Hughes reports for AppleInsider.
“Though Barclays has been bearish on Apple stock since February, the investment firm changed its tune on Monday with a newly reestablished ‘overweight’ rating alongside a new price target of $110 per share,” Hughes reports. “Previously, he had held a $95 price target, and expressed concern that Apple could be hurt by lack of growth from a maturing smartphone market.”
“In addition, he cited weakness from key rival Samsung as a ‘large unforeseen buffer’ that could aid Apple moving forward,” Hughes reports. “Reitzes also cited checks with supply chain sources indicating very ‘strong’ expectations for the company’s anticipated new products moving into 2015.”
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