Analysts from Merrill Lynch and Piper Jaffray were out pounding the table on shares of tech giant Apple Inc. (NASDAQ:AAPL) and professional networking giant LinkedIn Corporation (NYSE:LNKD), respectively. The analysts reflect on Apple’s upcoming media event, and LinkedIn’s long-term prospects. Let’s take a closer look.
In a research report released Tuesday, Merrill Lynch analyst Wamsi Mohan reiterated a Buy rating on shares of Apple, with a price target of $130, as the company will host a media event on Monday, March 21st at its Cupertino, California campus.
Mohan noted, “We expect several new product announcements including 1) a new 4 ” iPhone “iPhone SE ” with updated specs, 2) smaller 9.7 ” iPad Pro, and 3) new wrist bands for Apple Watch. While recent product launches have focused on larger sized products (larger 4.7 ” and 5.5 ” phones, larger 12.9 ” iPad Pro), we expect this event to showcase products that are smaller versions of existing devices. We estimate iPhone SE could add $0.17/$0.29 to earnings in C16/F17 which is not currently factored in our model.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Wamsi Mohan has a total average return of 6.2% and a 53.7% success rate. Mohan has a -1.7% average return when recommending AAPL, and is ranked #723 out of 3735 analysts.
Out of the 52 analysts polled by TipRanks, 38 rate Apple stock a Buy, 11 rate the stock a Hold and 3 recommend a Sell. With a return potential of 29%, the stock’s consensus target price stands at $137.10.
Piper Jaffray analyst Gene Munster reiterated an Overweight rating on shares of LinkedIn, with a price target of $175, as he continues to believe in the long-term prospects of LNKD.
Munster wrote, “While LNKD is ~20% off its lows after disappointing guidance and commentary at the Q4 report, shares are still about 40% lower than levels prior to the report. We expect investors to act cautiously to LNKD over the next few quarters, but believe that the company remains well positioned for the long-term as LinkedIn remains relatively unchallenged in its Talent Solutions segment with a strong moat of over 300 million user profiles and optionality in its Sponsored Update, Sales Navigator and Education businesses. We believe that shares still reflect company commentary for slower Talent Solutions growth and feel Street numbers are in a good place for CY16.”
According to TipRanks.com, analyst Gene Munster has a total average return of 18.1% and a 60.8% success rate. Munster has a -26% average return when recommending LNKD, and is ranked #5 out of 3735 analysts.
Out of the 33 analysts polled by TipRanks, 21 are bullish on LinkedIn stock, while 12 are neutral. With a return potential of 75%, the stock’s consensus target price stands at $192.13.