“Apple saw its stock price spike higher early Tuesday on an analyst upgrade, while shares of Bank of America also rose sharply after a series of upgrades,” Vance Cariaga reports for Investor’s Business Daily.
“Apple’s stock price was up 6% in premarket trading on the stock market today after it was upgraded to outperform by Wells Fargo, which said a recent correction in shares has gone too far,” Cariaga reports. “On Monday, Apple shares sank as much as 13% to 92 intraday before closing down 2.5% to 103.12, amid an overall market sell-off over fears about China’s economy.”
Wells Fargo raised Apple to Outperform from Market Perform and the firm’s valuation range was set up at $125 to $135. – MDN Ed.
Read more in the full article here.
MacDailyNews Take: Let the upgrade parade roll forth!
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