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published in Blogs
Dec 06, 2021
Apple (AAPL, $166.13) shares rise, on overweight rating at KeyBanc

Apple (AAPL, $166.13) shares rise, on overweight rating at KeyBanc

On Monday, Apple  shares climbed, after analysts at KeyBanc Capital Markets initiated coverage of the iPhone maker’s stock an 'overweight' rating and a $191 price target.

According to KeyBanc analyst Brandon Nispel, Apple is growing its user base across all of its products and geographies, which should boost growth  in the company’s key services unit.

"We see growth and margin upside, strong shareholder-friendly capital allocation, and potential for new products and services, which create a strong investment profile," Nispel said. "While Apple is expensive by historical valuations, we find AAPL attractive relative to other mega-caps given AAPL's superior ROIC characteristics."

Related Tickers: AAPL