Apple Streaming TV Service Paves Path to Bigger TV Push; Cantor Reiterates Buy
The investment firm Cantor Fitzgerald came out with a a few insights on Apple Inc. (NASDAQ:AAPL), following yesterday’s report from WSJ that the company is planning to launch a web TV service this fall. The analyst believes that a potential streaming TV offerings such as HBO NOW pave the path for even bigger ambitions for Apple with a full blown TV that allows the company to completely control the user experience.
The lead analyst Brian White rates AAPL a Buy with a price target of $160, which represents a potential upside of 26% from where the stock is currently trading.
White noted, “Given Apple’s growing TV ambitions over the past few years, combined with the watershed announcement in January by Dish to launch Sling TV and Apple’s announcement last week to offering HBO NOW in April, we believe an Apple TV streaming service is ready to become a reality as the WSJ article suggests. In our view, Apple is paving the way for grander ambitions in the TV market as we believe ordering channels on an a la carte basis with HBO NOW, or in smaller bundles through a streaming TV service, has the potential to help this process along.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Brian White has a total average return of 18.6% and a 66.8% success rate. White has a 30.9% average return when recommending AAPL, and is ranked #36 out of 3533 analysts.