“Three positive analyst notes couldn’t stop shares of Apple from sliding with the broader market on Friday,” Teresa Rivas reports for Barron’s. “However, today’s weakness looks like a buying opportunity.”
“BMO Capital Markets analyst Tim Long, who recently took the reins from Keith Bachman, launched coverage of Apple with an Outperform rating and $145 price target,” Rivas reports. “BMO has long been bullish on Apple and so too has Barron’s, which named Apple one of its 10 favorite stocks for 2016.”
“With Apple down 2.6% to a recent $113.18, Long’s $145 target represents 28% upside, excluding dividends. Shares yield 1.8%… Elsewhere, Citigroup’s Jim Suva reiterated a Buy rating and $145 price target,” Rivas reports. “Finally, Stifel’s Aaron Rakers reiterated a Buy rating on Apple and $150 price target, the highest of the bunch.”
Read more in the full article here.
MacDailyNews Take: Apple’s stock price can do pretty much anything and certainly without rhyme or reason.
TGIF! Intern, tap that keg!!!