Apple Target Raised at Morgan Stanley Amid Low Expectations
- Apple receives third-highest target on Street from the analyst
- Negative sentiment means Apple unlikely to disappoint further
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Wall Street sentiment may be starting to turn around for Apple Inc., which won a price target boost at Morgan Stanley less than a week after another firm upgraded the shares.
The iPhone maker’s target was raised to $247 from $231 by Morgan Stanley analyst Katy Huberty, who wrote in a note that there is a positive setup for earnings and “low risk” of the company’s guidance for the September quarter missing expectations when it reports results next week.