(News Bulletin 247) – Bank of America announced on Wednesday that it had raised its price target on Apple from $158 to $168, while reiterating its “neutral” opinion on the stock.
In a study, the financial intermediary evokes an activity tending to stabilize or even improve concerning the iPhone and services, which according to him should support its profit margins.
If this prospect leads him to raise his earnings estimates for the Apple firm, the analyst expects that the favorable effect linked to the launch of new products and a flattering basis of comparison will be offset by the risks surrounding a possible deceleration in consumer spending in the second half of the year.
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