Apple Analysts See More Upside After 2019’s 86% Rally
- Needham lowers rating from strong buy after recent advance
- At least five firms have raised their targets so far in 2020
This article is for subscribers only.
Apple Inc.’s price target was raised to $350 from $280 at Needham, which wrote that the iPhone maker had a number of tailwinds in 2020 that could help it extend last year’s strong rally.
The new target matches the Street-high view on the shares, and implies upside of almost 18% from its most recent close. Because Apple surpassed Needham’s previous price target of $280, the firm lowered its rating on the stock to buy from strong buy.