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Loop Capital boosts Apple target on second-half prospects

Published 07/06/2018, 10:04 AM
© Reuters.  Loop Capital boosts Apple target on second-half prospects
AAPL
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  • Loop Capital has raised its price target on Apple (AAPL +0.6%) on what it sees as good positioning going into the second half with an expected fall phone update ahead.
  • Analyst Ananda Baruah raised the firm's price target to $210 from $195, pointing to momentum in services and the expectation of tailwinds from an LCD-based version of the iPhone X that would have a lower ASP. Baruah says the company's last $100B buyback could add about $1.60 to EPS as well. (h/t Bloomberg)
  • Loop's target implies 12.6% upside.
  • Apple shares are up 28.7% over the past 12 months. They're up 9.6% YTD.
  • Now read: The Market Does Not Understand Apple


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