Analysts are weighing in on the technology giant Apple Inc. (NASDAQ:AAPL) and action camera giant GoPro Inc (NASDAQ:GPRO), and they are unsurprisingly bullish on both stocks.
FBR Capital analyst Daniel Ives reiterated an Outperform rating on Apple shares, with a price target of $175, as the countdown to iPhone 6s launch begins. While there is much anticipation heading into Apple’s iPhone 6s/6s + launch this Friday, the analyst believes that initial underlying customer demand looks robust and should translate into potential upside versus Street estimates for the December quarter.
Ives wrote, “There has been much debate on the Street over the last few weeks around how successful the iPhone 6s launch will be versus the “LeBron James” of smartphone launches—the banner iPhone 6. While the splitting of hairs around anecdotal excitement for 6s, tea leaves from Apple’s pre-order press release versus prior years, and the parsing of China iPhone demand have fueled a major bull-bear battle around Apple, we believe the stage is now set to show YOY growth over iPhone 6 for the coming quarters, which should be front and center for Apple investors.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, Daniel Ives has a total average return of 4.7% and a 47.7% success rate. Ives has a -4.4% average return when recommending AAPL, and is ranked #839 out of 3768 analysts.
Out of the 49 analysts polled by TipRanks, 33 rate Apple stock a Buy, 14 rate the stock a Hold and 2 recommend to Sell. With a return potential of 29.5%, the stock’s consensus target price stands at $146.85.
J.P. Morgan analyst Paul Coster weighed in yesterday with his views on GoPro, after the company’s CEO Nick Woodman appeared on CNBC, and defended the company against recent criticism that GoPro is a “one-trick pony.
Coster noted, “He sounded constructive regarding GoPro’s prospects heading into the holiday season, hinting at the possibility of a new product introduction beforehand (not priced into the stock).” Furthermore, “We believe GPRO is still on track to achieve 40% EPS growth in 2015 and there could be upside to our 2016 forecast for ~14% EPS growth if the firm is successful in launching the quad-copter product in 1Q16 or in ramping media revenues over the course of the next year. We recommend purchase of this multi-dimensional growth story at what we consider a very reasonable price.”
Coster reiterated an Overweight rating on GPRO, with a price target of $75, which represents a potential upside of 125% from where the stock is currently trading.
According to TipRanks.com, analyst Paul Coster has a total average return of -4.2% and a 43.9% success rate. Coster has a -23.4% average return when recommending GPRO, and is ranked #3531 out of 3768 analysts.
Out of the 18 analysts polled by TipRanks, 13 rate GoPro stock a Buy, 4 rate the stock a Hold and 1 recommends to Sell. With a return potential of 112%, the stock’s consensus target price stands at $70.50.
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