Barclays raises its Apple target $16 to $116

From TipRanks, which snagged analyst Tim Long’s Friday note to clients:

Barclays analyst Tim Long raised the firm’s price target on Apple to $116 from $100 and keeps an Equal Weight rating on the shares. Fundamentals will matter in 2021 for the IT hardware sector, with a macro recovery broadly helping the group, Long tells investors in a research note. He maintains a Neutral industry view, though is now learning more positive with his ratings distribution.

Raises target to (still soggy) $116 from (deep underwater) $100. 

My take: The targets go higher, the stock moves lower. Go figure.

8 Comments

  1. David Emery said:
    Any bleeping clown who has a price target substantially lower than today’s price needs to have a heluva strong argument for how Apple suddenly starts losing money, or at least losing valuation.

    3
    January 19, 2021
    • Robert Paul Leitao said:
      David: This is baffling ahead of an expected massive stimulus package and forecast economic growth in the 4% to 6% range as we head into summer. Considering the WFH trend that will continue post-pandemic and restrictions on travel and movement that will remain in place at various levels over the next few months, Apple is likely to benefit from double-digit revenue growth through FY2021 that ends in September.

      1
      January 19, 2021
      • Gregg Thurman said:
        Apple is likely to benefit from double-digit revenue growth through FY2021 that ends in September.

        Strongly agree.

        1
        January 19, 2021
  2. Jonny T said:
    Let’s measure the price next week and not worry about what it is doing now on zero news shall we?

    One wonders if Barclays’ targets are 30% lower than their peers on their other recommendations.

    1
    January 19, 2021
  3. Fred Stein said:
    Key phrase, “hardware IT sector’ shows he does not understand Apple at all.

    4
    January 19, 2021
    • David Emery said:
      Even if you just considered AAPL as ‘hardware IT’, you’d still have to justify that price!

      1
      January 19, 2021
  4. Gregg Thurman said:
    Excepting Rod Hall (who I believe is an aberration) I believe analysts with targets below AAPL’s current prints to be Buy Siders.

    1
    January 19, 2021
    • Mark Visnic said:
      That makes no sense. Good buy siders assign little to no value to sell-side price targets.

      0
      January 20, 2021

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