Apple: UBS upgrades to 'buy'
(CercleFinance.com) - UBS announced on Wednesday that it has upgraded its rating on Apple shares from "neutral" to "buy", having increased its target price for them from 115 dollars to 142 dollars (current price about 123 dollars, up 2.
5%).
In its comments, the broker justifies its upgrade by the prospect of a stabilization of the iPhone demand over the long term, accompanied with better average selling prices for them.
UBS also says it wants to measure as closely as possible the "true" value of Apple's likely entry into the automotive market, a scenario that it does not believe is correctly priced into the stock.
The broker - which highlights its investments in the field for several years (driverless car, laser remote sensing) - estimates that such a development represents at least 14 dollars per share.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
5%).
In its comments, the broker justifies its upgrade by the prospect of a stabilization of the iPhone demand over the long term, accompanied with better average selling prices for them.
UBS also says it wants to measure as closely as possible the "true" value of Apple's likely entry into the automotive market, a scenario that it does not believe is correctly priced into the stock.
The broker - which highlights its investments in the field for several years (driverless car, laser remote sensing) - estimates that such a development represents at least 14 dollars per share.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.