Jefferies raises Apple target $35 to $405

From Seeking Alpha, which snagged analyst Kyle McNealy’s Friday note:

Heading towards the fall’s 5G iPhone launch, Jefferies raises its Apple price target from $370 to $405 and maintains a Buy rating.

The firm is “feeling incrementally confident in Apple’s opportunity with the 5G cycle.”

Analyst Kyle McNealy: “Specifically, we feel better about Apple’s ability to hold retail pricing for the fall 5G launch relatively consistent with last year while maintaining solid gross margin performance.”

Maintains Buy rating, raises price target to $405 from $370.

My take: By my count, McMealy is the 13th Apple analyst to raises his price target since March 3. I’ve asked to see his note.

See also:

UPDATE: The same Seeking Alpha item claimed that Wedbush had raised its Apple target to $425. That was news to me, so I checked with Daniel Ives:

Hello Philip and hope all is well! $425 our bull case. $375 remains price target. Thx and look forward to next week WWDC. Enjoy wknd!

Be First to Comment

    Leave a Reply