Canaccord Genuity analyst T. Michael Walkley has boosted his price target on Buy-rated Apple to $150 on strong demand for iPhone 12 devices.
The firm thinks the iPhone business and other hardware products could see double-digit growth in FQ1
Canaccord expects FQ1 EPS from Apple of $1.41 vs. $1.40 consensus and anticipates FY21 EPS of $4.46.
The $150 PT price target is derived by taking a 30K multiple to the FY22 EPS estimate of $4.97.
Shares of Apple traded as high as $136.69 in December.
MacDailyNews Take: May that $150 Apple price target quickly go from Walkley’s lips to Mr. Market’s ears.