Citigroup initiates Apple with a buy rating, $110 target

“Citigroup analyst Jim Suva started coverage of Apple with a buy rating and $110 price target on the shares, which is 15% above where they closed on Tuesday,” Tomi Kilgore reports for MarketWatch.

“Suva doesn’t expect Apple’s earnings report on July 22nd to move the stock, but he does believe the revealing of the iPhone 6, which he expects between Sept. 5 to Sept. 15, to give the shares a boost,” Kilgore reports. “Apple shares rose 2.1% in premarket trade, after announcing late Tuesday a partnership with IBM to create business apps and to sell Apple products to IBM’s corporate customers.”

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