- Following a trip to Asia in which he noticed a "substantial shift in attitudes toward Apple (AAPL), Jefferies' Peter Misek upgrades the stock to Buy with $600 price target (from $425).
- He still sees risks to CQ4 revenues, but now believes better gross margins will allow the company "to skate by" until the larger-screened iPhone 6 launches. "The stock is attractive based on the attitude change, FY15 revenue growth of more than 15%, and valuation."
- Shares +0.5% premarket with Nasdaq 100 futures -0.8%.
Misek boosts Apple to Buy
Oct 7 2013, 08:03 ET