Apple Inc. (AAPL) Coverage Initiated with a Buy and PT of $675 by Citi
Citi Research is out with a report on November 25th initiating coverage of Apple with a “Buy” rating and $675 price target, implying ~20% expected return. Shares of the iPhone maker closed at $571.50 a share in Friday's trading session. After a 28% correction since 09/21/12 (since recovered to down 19%), Apple shares are consistent with past corrections in its own history and that of its peers, according to Citigroup analysts. They note further that with y/y growth expected to stabilize in 1H13,this sets up Apple Inc. (NASDAQ:AAPL) to appreciate toward their . . .
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