Apple price target raised to $135 from $120 at Citigroup
Citigroup raised its earnings estimates for Apple after its
field work indicated consumers are increasingly buying the higher memory iPhone
6 and 6+. Citi expects purchasing trends towards higher memory devices to drive
stronger sales and margins. It believes consensus estimates are yet to factor
in this development. The firm raised its price target for Apple shares to $135
from $120 and keeps a Buy rating on the name. Shares of phone maker closed
Friday down 49c to $115.
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