Apple: Shares Are Expected To Remain Range Bound, Says Deutsche Bank
In a research report issued Tuesday, Deutsche Bank analyst Sherri Scribner reiterated a Hold rating on Apple (NASDAQ:AAPL) with a $102 price target, despite the company’s solid F4Q-14 results with revenue and EPS ahead of expectations.
Scribner noted, “We have tweaked our FY-15 GMs higher, driving a modest $0.10 increase in our FY-15E EPS, but have left the majority of our model unchanged. With strong near-term growth largely factored into AAPL’s current valuation and limited catalysts ahead of the Apple Watch, we expect shares to remain range bound and maintain our Hold rating.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Sherri Scribner has a total average return of 9.5% and a 62.5% success rate. Scribner has a 13.8% average return when recommending AAPL, and is ranked #493 out of 3337 analysts.