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UBS raises "aspirational" brand Apple to 12% upside

Published 06/01/2018, 08:29 AM
© Reuters.  UBS raises "aspirational" brand Apple to 12% upside
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  • UBS maintains a Buy rating on Apple (NASDAQ:AAPL) and raises the price target from $190 to $210, a 12% upside to yesterday’s close.
  • Analyst Steven Milunovich cites the firm’s consumer survey that indicated “weak iPhone buying intentions but a rising mix, so continued unit pressure but potential for flat-to-up ASP. “
  • In the survey, 44% of planned purchases were for the iPhone X, up for 30% from the October survey.
  • The analyst notes that Apple remains an aspirational brand, saying, “We do think the P/E could rise over time as Apple is perceived more like Nike (NYSE:NKE) than like Nokia (HE:NOKIA).”
  • Apple shares are up 0.5% premarket to $187.87.
  • Now read: M17 Entertainment Readies U.S. IPO Plans


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