Cantor Fitzgerald Boosts Price Target on Apple

Cantor Fitzgerald analyst Brian White maintained a “Buy” rating on Apple. The analyst also raised his price target from $160 to $180. This new price target suggests a 40% upside from the stock’s current price.

The analyst commented: “Next month, Apple will enter its first new product category in five years, while media reports over the past several weeks have highlighted potential new areas of future innovation. Also, we believe Apple’s iPhone portfolio and position in China have never been stronger. Finally, Apple has shown its commitment to returning cash to shareholders, and we expect more in April. We believe the combination of these forces will drive the market to reward Apple’s stock with an expanded P/E multiple, and we are raising our 12-month price target to $180”

Cowen Raises Price Target on Apple

Cown has raised its price target on Apple from $115 to $135, suggesting a 6% upside. The firm noted that the following factors contributed to the price target increase:

• Recent survey indicated continued strong demand for iPhones.
• Strong demand for the iWatch, although there are still some issues.
• Better than expected Apple Pay results.

Over the last few months, Apple has received several upgrades and price target increases. The company has managed to remain in the spotlight on both Wall Street and Main Street, with its exciting product launches, potential future plans and its addition to the Dow 30.

Shares of Apple are up over 65% in the last 12 months (compared to a 18% increase in the technology sector). The rise in its share price has caused its dividend yield to fall to 1.5%, but there’s good news for income investors, as Apple should be boosting its dividend next month.

Investors interested in AAPL may be interested in the funds listed below. These funds currently have the largest stakes in the company.

The funds listed above allow investors to gain exposure to AAPL while remaining diversified. Investors interested in AAPL may also be interested in Microsoft (MSFT) and Google (GOOG).

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