SPX3,845.08+13.69 0.36%
DIA310.41+0.70 0.23%
IXIC11,361.85+39.61 0.35%

KeyBanc Recommended Owning Apple - Read Why

KeyBanc analyst Brandon Nispel had an Overweight rating on Apple Inc (NASDAQ: AAPL) with a price target of $191. Nispel recommended owning AAPL. 

Benzinga · 06/09/2022 11:53
  • KeyBanc analyst Brandon Nispel had an Overweight rating on Apple Inc (NASDAQ:AAPL) with a price target of $191.
  • Nispel recommended owning AAPL. 
  • Apple's user base is growing across products and geographies; its user growth fuels growth in services, creating Apple's ecosystem competitive advantage, Nispel noted. 
  • Nispel saw growth and margin upside, strong shareholder-friendly capital allocation, and potential for new products and services, which created a strong investment profile. 
  • While Nispel found Apple expensive by historical valuations, he found it attractive relative to other mega-caps, given AAPL's superior ROIC characteristics. 
  • Price Action: AAPL shares traded lower by 1.23% at $146.14 on the last check Thursday.