Evercore ISI raised the firm’s price target on Apple (AAPL) to $260 from $250 and keeps an Outperform rating on the shares. Apple reported “a largely inline” December-end quarter, but provided March-end quarter guidance that was “ahead of buyside fears,” the analyst tells investors in a research note. For the March quarter, Apple guided sales to be up low to mid-single digits and gross-margins to be relatively flat at 47%, notes the analyst, who thinks Apple implicitly guided for about $93B in sales and $1.58 in EPS, versus the Street at $95B and $1.67. However, this is “much better than buyside fears” of $90B or lower guidance, the analyst added.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AAPL:
- Warren Buffett’s Net Worth – The Making of the Billionaire Oracle of Omaha
- UBS sees ‘flattish’ iPhone demand for Apple in Q2, FY25
- Apple price target raised to $230 from $220 at Redburn Atlantic
- Apple price target raised to $290 from $250 at TD Cowen
- Apple price target raised to $270 from $260 at JPMorgan