• Mon. Aug 15th, 2022

Citigroup, Barclays Boost Price Targets On Apple Following Upbeat Earnings, But These Analysts Disagree

ByLisa Levin

Jul 29, 2022
Citigroup, Barclays Boost Price Targets On Apple Following Upbeat Earnings, But These Analysts Disagree

Apple Inc AAPL reported better-than-expected results for its fiscal year third-quarter, helped by strong iPhone and iPad sales. iPhone revenue of $40.67 billion came in better than analysts’ estimates of $39.2 billion.

Apple shares rose 2.8% to $161.67 in the pre-market trading session.

Several analysts made changes to their price targets on Apple following the release of results.

Below are the analysts raising price targets on Apple.

  • Citigroup raised price target on Apple from $175 to $185. However, Citigroup analyst Jim Suva maintained Apple with a Buy.
  • Barclays lifted boosted Apple’s price target from $166 to $169. However, Barclays analyst Tim Long maintained the stock with an Equal-Weight rating.

However, these analysts reduced price targets on Apple.

  • Raymond James lowered price target on the stock from $190 to $185. However, Raymond James analyst Melissa Fairbanks maintained Apple with an Outperform.
  • Rosenblatt lowered Apple price target from $168 to $160. However, Rosenblatt analyst Barton Crockett maintained the stock with a Neutral rating.



Image and article originally from www.benzinga.com. Read the original article here.