“Apple Inc.’s stock [AAPL, +1.31%] rallied 1.3% in premarket trade Tuesday, after Credit Suisse upgraded it to outperform from neutral given strong iPhone sales and expectations the technology giant will return more cash to shareholders,” Tomi Kilgore reports for MarketWatch.
“Analyst Kulbinder Garcha also raised his stock price target to $130, which is 19% above Monday’s closing price of $109.25, from $110,” Kilgore reports. “He believes there is scope for Apple to increase its cash return program to $200 billion and extend it for three years.”
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