Analyst Actions: RBC Capital Adjusts Apple PT to $145 From $132, Maintains Outperform Rating
09:02 AM EST, 01/19/2021 (MT Newswires) -- RBC Capital increased its price target on Apple (AAPL) to $145 from $132 remaining bullish on company's both near- and long-term prospects.
According to the brokerage next year's iPhone may be received even better in comparison to this year's given robust 5G development throughout the year.
"In addition to the strength of its core product categories, we believe continued services growth, market-leading buyback activity, and potential for new products/services (Apple Car?) suggest AAPL's premium multiple is warranted" said the brokerage.
Apple has an average rating of Outperform and price targets ranging from $80 to $160, according to analysts polled by Capital IQ.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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