Apple: Wells Fargo upgrades stock
(CercleFinance.com) - On Friday Wells Fargo Securities upgraded its recommendation on the Apple stock to "overweight," maintaining a target price of 315 dollars.
"While it is still admittedly difficult (impossible) to gauge the fundamental impact Apple may realize from the COVID-19 outbreak, at current levels we think shares offer a compelling risk / reward for long-term patient investors," the Californian broker said in its report on the share.
"While it is obviously difficult (if not impossible) to assess the fundamental impact caused by the Covid-19 outbreak at this time, we believe that at current levels the stock offers an attractive risk/return profile for long-term investors," the California-based research firm said in a research note.
In particular, Wells Fargo believes that the techy giant will be able to increase its EPS to above 15 dollars over the next 12-24 months.
By way of comparison, it posted EPS of approximately 11.9 dollars over the past fiscal year.
The share is currently up 5.6%, outperforming a 4.3% increase in the Nasdaq index. It has now limited its fall to around 18% over the past month.
Copyright (c) 2020 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.
"While it is still admittedly difficult (impossible) to gauge the fundamental impact Apple may realize from the COVID-19 outbreak, at current levels we think shares offer a compelling risk / reward for long-term patient investors," the Californian broker said in its report on the share.
"While it is obviously difficult (if not impossible) to assess the fundamental impact caused by the Covid-19 outbreak at this time, we believe that at current levels the stock offers an attractive risk/return profile for long-term investors," the California-based research firm said in a research note.
In particular, Wells Fargo believes that the techy giant will be able to increase its EPS to above 15 dollars over the next 12-24 months.
By way of comparison, it posted EPS of approximately 11.9 dollars over the past fiscal year.
The share is currently up 5.6%, outperforming a 4.3% increase in the Nasdaq index. It has now limited its fall to around 18% over the past month.
Copyright (c) 2020 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.