- The stock price of Apple Inc (NASDAQ: AAPL) has received a target price increase from $110 to $131 by Loop Capital. These are the details.
The stock price of Apple Inc (NASDAQ: AAPL) has received a target price increase from $110 to $131 by Loop Capital. And Loop Capital analyst Ananda Baruah upgraded the rating from “Hold” to “Buy.”
Baruah had cited the strong CY21 sales forecasts. And Baruah is seeing upsides to the consensus in iPhone build and shipping estimates. Plus the iPhone 13 build forecasts are also looking positive relative to consensus. There is also upside to Mac, iPad, AirPod, Watch, and Services well into the calendar year 2021.
Now Loop Capital is forecasting a CY EPS of $4.23 compared to a prior $3.89 EPS forecast. With “a broad tailwind of product and services growth, we see AAPL’s shares sustaining a valuation premium to the S&P 500,” wrote Baruah in the research report via TheStreet.
Disclosure: I have a small AAPL position in my stock portfolio