Analyst Polishes Apple’s Outlook
Thomas Weisel Partners upgraded Apple Monday, saying the company’s current share price severely discounts long-term growth potential. The firm also said the risk that 2008 results will disappoint has faded. Analyst Doug Reid moved his rating to “Overweight” from “Market Perform” and raised his price target to $195 from $188. The new target implies he expects shares to rise about 27 percent over Friday’s $153.08 close. Apple will likely report a 24 percent compound annual revenue growth rate over the next five years, said Reid.”
(Via MacNewsWorld.)
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