Bank of America sets new $200 price target on Apple shares

Apple had its price target decreased by Bank of America revised its 12-month price target on Apple shares to $200.00 (from $215.00) via a research note to clients on Thursday. The investment firm currently has a “Buy” rating on Apple’s stock.

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Bonnie Powley for Zolmax News:

Deutsche Bank Aktiengesellschaft reduced their target price on Apple from $210.00 to $200.00 in a report on Friday, April 29th.

Nine equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock.

Based on data from MarketBeat.com, the stock presently has an average rating of Buy and an average price target of $188.10.

MacDailyNews Take: Longs, don’t buy Apple shares under $145 if you’re allergic to easy money.

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2 Comments

  1. They can set whatever price target they want as it really doesn’t mean anything. I remember the high price targets set for stocks like Roku, Facebook, and Amazon. Where are those stocks now? Giving price targets are a waste of time.

  2. The problem with price targets is it assumes a certain level of high tide. When money is cheap (low rates) the tide is high. A megaton of leverage goes into the market increasing volume and increasing price. This wayhiigh flyers like Apple can reach these price targets. But if the highest tide isn’t getting all that high, even the golden children like Apple (or MSFT) will have a hard time making these price targets. If rates are headed higher, it is even worse. IMHO Apple is likely headed for a P/E of 20 (+/- 1.5). That would require TTM earnings per share in the range of 8.5 – 11.5. I’m guessing Apple is close to 7 EPS by end of year (high single digits growth, stock buybacks increasing EPS by about 5%). So unless rates fall again or Apple comes out with a major new revenue potential, 200 in the next 12 to 18 months? I just don’t see it.

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