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Apple: Jefferies raises target price

( - On Thursday a Jefferies analyst confirmed his "buy" recommendation on the Apple group share, while raising his corresponding target price from 116.
25 dollars to 135 dollars.

"We continue to remain confident in Apple's opportunity with the 5G cycle as we analyse the regional set-up heading into the fall product launches. Specifically, we see historically low upgrade rates and handset subsidies in the US reversing trend, share gains versus Huawei in Europe, and a massive legacy installed base in China looking to upgrade," Jefferies says.

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