Evercore ISI raised the firm’s price target on Apple (AAPL) to $275 from $260 and keeps an Outperform rating on the shares. Apple remains positioned to sustain mid-single digit sales and low-to-mid teens free cash flow and EPS growth over the next several years with less volatility and high consistency, the analyst tells investors. Apple can sustain, if not expand, its current valuation given not just strong free cash generation but also their commitment to returning 100% to shareholders, the analyst added in the firm’s fifth annual Apple Primer.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AAPL:
- Turkey plans to launch new regulations on big tech firms, Bloomberg reports
- Boeing (NYSE:BA) Makes a Greater Push on Asia
- PepsiCo to acquire poppi, Guess receives WHP offer: Morning Buzz
- Apple Faces Embarrassing AI Setback as Siri Struggles to Catch Up
- Warren Buffett’s Berkshire Ups Stakes in Japan’s Trading Houses as Hinted
Questions or Comments about the article? Write to editor@tipranks.com