Longbow initiates Apple stock coverage with ‘buy’ rating and $125 price target

“Apple stock coverage was initiated this morning at Longbow Research with a ‘buy’ rating and a $125 price target,” Natalie Walters reports for TheStreet.

We see Apple as undervalued against stabilizing iPhone demand, a growing subscriber base that aids in Apple’s ability to monetize its ecosystem, optionality provided by the notable jump in R&D spend, and sizeable free cash generation. — Longbow Research, in a July 6, 2016 note to clients

“The firm forecasts the Cupertino, CA-based technology company to increase its iPhone installed base to 710 million users for FY16 (+110 million year-over-year),” Walters reports, “which would provide a tailwind for the expected September release of the iPhone 7.”

Walters reports, “Longbow sees a 31.5% upside in the stock.”

Read more in the full article here.

MacDailyNews Take: From your lips, Longbow, to Mr. Market’s ears!

Survey: Consumers are more excited about Apple’s ‘iPhone 7’ than they were for iPhone 6s – May 4, 2016

[Thanks to MacDailyNews Reader “Rainy Day” for the heads up.]


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