Read Why Deutsche Bank Remains Bullish On Apple; Bumps Up Price Target BY 14%

·1 min read
  • Deutsche Bank analyst Sidney Ho raised the firm's price target on Apple Inc (NASDAQ: AAPL) to $200 from $175 and reiterated a Buy rating on the shares. The price target implies an upside of 15.6%.

  • Considering a "healthy demand backdrop" and Apple's "strong" portfolio across its product lines, the Street estimate for 2022 revenue growth of only 5% is too low with the push-out of some revenue from 2021 already accounting for three percentage points of growth, Ho notes.

  • The analyst believes there is an upward bias to Apple's estimates. While supply chain constraints are a near-term headwind to revenue, Apple's supply chain has improved at a faster pace, with iPhone wait times shortening to only a few days, and that should be enough to drive a "beat-and-raise," Ho says.

  • Further, he thinks Apple shares will "benefit from a flight to quality in an inflationary environment."

  • Price Action: AAPL shares traded lower by 1.57% at $170.36 in the premarket session on the last check Tuesday.

Latest Ratings for AAPL

Jan 2022

Loop Capital

Maintains

Buy

Dec 2021

Citigroup

Maintains

Buy

Dec 2021

Evercore ISI Group

Maintains

Outperform

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

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