“On Monday, Citi’s Jim Suva was the latest Wall Street analyst to become incrementally bullish on Apple’s stock,” Jayson Derrick reports for Benzinga. “In a research report, he argued that although Apple’s stock is trading near its all-time highs it isn’t necessarily too late to buy the stock.”
“Suva argued that Apple’s next leg of growth will come from the upcoming iPhone 8 super-cycle and longer-term prospects in new markets such as India,” Derrick reports. “These two headwinds alone will drive Apple’s sales and earnings per share and support an expansion in the valuation multiple of Apple’s stock.”
Derrick reports, “Shares of Apple were maintained with a Buy rating with a price target boosted to $160 from a previous $140.”
Read more in the full article here.
MacDailyNews Take: Analysts tend to flock together like birds.
Regardless: Go, AAPL!
[Thanks to MacDailyNews Readers “Fred Mertz” and “Dan K.” for the heads up.]