Canaccord Insights Update: Apple Inc. (AAPL), NVIDIA Corporation, (NVDA), AEterna Zentaris Inc. (AEZS)
Canaccord analysts weighed in today on the tech giant Apple Inc. (NASDAQ:AAPL), chipmaker NVIDIA Corporation (NASDAQ:NVDA), and biotech AEterna Zentaris Inc. (USA) (NASDAQ:AEZS).
Analyst Michael Walkley came out with a research report on AAPL, raising the price target to $160 (from $155), while maintaining a Buy rating on the stock. The increased price target comes in response to the company’s strong long-term sales and cash flows brought by the growing iPhone user base. He noted, “We believe Apple’s strong Q2/F2015 results and Q3/F2015 guidance are consistent with our surveys and analysis indicating a very strong iPhone 6 upgrade cycle should continue through C2015.” With Apple shares last trading at $126.44, Walkley’s price target implies potential upside of nearly 26 percent.
AEZS has announced its operating results for the first-quarter, which were largely consistent with Canaccord’s healthcare analyst Neil Maruoka estimates. In response, the analyst reiterated a Hold rating on the stock, with a price target of $0.70, which implies an upside of about 44% from current levels. Maruoka stated, “During Q1, AEterna Zentaris began recording revenues related to its promotional selling of EstroGel. Although EstroGel contributed only $73,000 to the top line, we recognize this as a significant milestone for the company as it takes its first steps to becoming a cash-generating business. Following the addition of Saizen in Q2, we expect in-licensing revenues to grow considerably into 2015.”