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Apple Inc. Message Board

  • sparky13_8 sparky13_8 Jan 9, 2013 9:33 PM Flag

    upgrade woohoo!

    Shares of Apple Inc. were upgraded on Wednesday from a "Buy" to a "Strong Buy" by analyst Tim Jensen. The analyst told clients that Apple's fundamentals haven't changed, and that the recent decline of the stock is a compelling value.

    “We think AAPL will benefit from a number of recent product refreshes, including its key iPhone and iPad offerings," Mr. Jensen wrote. "We also think the new iPad Mini will contribute to share gains. We acknowledge some slip-ups and management changes of late, but see the fundamental story as intact."

    The analyst also told his clients that he believes Apple could use more of its $121 billion in cash for dividends and a stock buyback. Apple is currently paying a $2.65 per share dividend and is already executing a $10 billion stock buyback program.

    In addition to upgrading AAPL to a "Strong Buy," Mr. Jensen raised his $700 price target to $750 for the company's stock. Less

    Sentiment: Strong Buy

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