Citi prefers to be optimistic when it comes to Apple.
It's not really alone in this (as the firm notes, 51 out of 56 analysts recommend investors buy Apple shares), but what is different is the optimism comes after a rough patch for Apple's stock.
Apple shares have dropped pretty badly over the past couple of months -- down about 18 percent from a high of $705.07 in September -- but that decline is likely about over, Citi says.
The firm today started coverage on the electronics giant by recommending investors buy shares and saying the stock should reach $675 over the next 12 months. It notes that Apple shares typically climb 20 percent to 50 percent following sell-offs similar to the most recent drop.
View the Original article
No comments:
Post a Comment