Bank of America Merrill Lynch raises its Apple (NASDAQ:AAPL) price target from $180 to $220 while reiterating a Buy rating.
Bank of America Merrill Lynch raises its Apple (NASDAQ:AAPL) price target from $180 to $220 while reiterating a Buy rating. The price target is 25% above yesterday’s closing price and would represent a $1.1T market valuation.
”We remain bullish on potential for cash repatriation, lower tax rates, and the potential for positive estimate revisions heading into 2019. A smoother iPhone cycle (no boom-bust) should drive increased stability in earnings, commanding a higher multiple,” writes analyst Wamsi Mohan.
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