Nomura hikes Apple price target to $210

From a note to clients snagged by Smarter Analyst:

Nomura analyst Jeff Kvaal maintained a Hold rating on Apple (NASDAQ: AAPL) today and set a price target of $210. The company’s shares closed yesterday at $225.03, close to its 52-week high of $228.26.

Kvaal has an average return of 28.8% when recommending Apple.

According to TipRanks.com, Kvaal is ranked #384 out of 4874 analysts.

[Commentary by Smarter Analtyst’s Brian Anderson]

According to Business Insider, Kvall maintains a Neutral rating on Apple. He raised his price target to $210 from $190. 

As friend-of-the-blog Michael Thompson put it:

Apparently he’s unaware that 210 is lower than 227.65.  Few have been more wrong, more often than Jeffrey Kvaal.

5 Comments

  1. David Emery said:

    It might be fun to post “TipRanks.com” ratings, where available, on -all of the analysts- who cover AAPL (as part of the Smackdown spreadsheet?)

    2
    September 1, 2018
  2. Robert Paul Leitao said:

    In a cursory review of some of the analyst’s comments over the past year, Mr. Kvaal appears to be primarily focused on the iPhone’s performance in determining his Apple price targets and buy recommendations. Consequently he may be less apt than other analysts to fully consider rising Services revenue in his valuation models and the value of the entire global eco-system.

    The fact that his latest price target is below the current trading range for the shares is not a surprise. Obviously he considers Apple “overvalued” at this time. In my view, analysts such as Merrill’s Wamsi Mohan that take a deep dive into Services analysis will produce higher revenue and earnings estimates with resulting higher price targets.

    But Mr. Kvaal is not alone with an iPhone-centric view of Apple or low price targets. Morningstar, for example, has a Fair Value Estimate of Apple as of July 31st of $175. In my view, price targets will rise over the next few months but different analysts and rating firms see Apple in different ways and will revise their price targets at different times.

    I do expect a round of revisions following the September 12th event.

    3
    September 1, 2018
  3. David Drinkwater said:

    As I looked at the tittle of this piece, I asked myself:

    “Do these analysts even LOOK at today’s price when they set their twelve month targets?”

    0
    September 2, 2018

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