JPMorgan Chase analyst Samik Chatterjee on Thursday upped the firm’s price target on Apple from $175 to $180 and reiterated an “Overweight” rating on the shares.
Chatterjee foresees that Apple shares are set for “multiple catalysts” into the latter portion of this year, including the upcoming “iPhone 13” family launch and “low investor expectations” for iPhone and total revenue for fiscal 2022, led by concerns over tough compares after a string of record quarters due to the response to COVID-19 that led to a need for tech devices for remote work and schooling.
Chatterjee increased his iPhone volume estimates to 246 million units for 2022 and expects “substantial upside” relative to the consensus.
A number of other equities research analysts also recently commented on AAPL. Wells Fargo & Company upgraded Apple to an “overweight” rating and lifted their target price for the company from $160.00 to $165.00 in a research report on Wednesday, July 28th… Robert W. Baird boosted their price objective on Apple from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, April 29th.
Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $156.74.
MacDailyNews Take: Chatterjee is now close to the top of Apple price targets. Canaccord Genuity analyst T. Michael Walkley currently holds the top spot with a $185 target (set on July 28, 2021) and a “Strong Buy” rating which is some +26.40% upside over the current AAPL price.