From MT Newswires, which snagged analyst Robert Muller’s note:
RBC Capital increased its price target on Apple (AAPL) to $145 from $132 remaining bullish on company’s both near- and long-term prospects.
According to the brokerage next year’s iPhone may be received even better in comparison to this year’s given robust 5G development throughout the year.
“In addition to the strength of its core product categories, we believe continued services growth, market-leading buyback activity, and potential for new products/services (Apple Car?) suggest AAPL’s premium multiple is warranted” said the brokerage.
Maintains Outperform rating, raises target to $145 from $132.
My take: Add this to the flurry of raised targets in advance of next week’s quarterly report. I’ve asked to see the note.