J.P. Morgan analyst Samik Chatterjee today boosted his price target of shares of Apple, citing better-than-expected iPhone sales.
Shares of Apple Inc. rose 0.7% in premarket trading Monday… Chatterjee lifted his target to $265, which is 21% above Friday’s closing price of $218.82, from $242, while reiterating the overweight rating he’s had on the stock for at least the past 3 years…
He expects sentiment on the stock to “improve materially” given the company’s ability to drive upward volume estimate revisions despite muted expectations.
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