How analysts rate Apple after its stock
Apple Inc. is now trading under $100 for the first time in years. The company’s sevenfor-one stock split is already reflected in its share price.
Investors are advised to keep in mind that the price targets of $104.28, $102.85 and the like will soon be changed (if not already changing) to reflect the new Apple prices with round numbers.
Stifel Nicolaus was the first analyst to formally adjust its price target. It has a Buy rating, and the target moved up to $110 in the call.
Barron’s featured an article over the weekend referring to analyst Brian White of Cantor Fitzgerald. His $4 projection in earnings per share from a better smartwatch would now only be an additional $0.57 in earnings per share after the split.
Last week, BMO Capital Markets reiterated its Outperform rating, but the price target was raised to $685 from $610. The new unadjusted target is $97.85.
RBC Capital markets maintained its Outperform rating last week, but the price target was raised to $675 from $645 in the call. That new price target would be adjusted to $96.43 after the split. Canaccord Genuity reiterated Apple with a Buy rating last week and the price target was raised to $710 from $660. Apple’s new post-split adjusted price target would be $101.42.
Credit Suisse maintained its Neutral rating last week after the WWDC event, but the firm raised its price target to $600 from $560. The new adjusted price target would be