6:11am Goldman Sachs Ups Apple Target Price To $620 From $610, Reiterates at Buy (Dow Jones)
6:09 am JPMorgan Ups Apple Price Target To $623 From $585, Reiterates At Overweight (Dow Jones)
6:14 am Apple fair-value estimate lifted to $590 vs. $560: Janney
1:23 am Apple price target lifted to $625 from $575: Mizuho
S&P CAPITAL IQ REITERATES BUY OPINION ON SHARES OF APPLE
(S&P Capital IQ)
We raise our 12-month target to $625 from $590, on revised P/E and P/E-to-growth analysis, based
on our calendar year '14 EPS estimate. However, we lower our EPS estimates to $43.66 from $45.58
for FY 14 (Sep.), $47.36 from $49.30 for FY 15, and $50.60 from $53.70 for FY 16, given continuing
growth challenges reflecting AAPL's size and significant penetration of current key categories and
products. Nonetheless, we are encouraged by iPhone growth, updated capital allocation efforts,
and the prospects for new offerings. At 12X our '14 estimate, we still see AAPL as undervalued.
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