Treasury yields rise slightly after Fed holds interest rates steady

U.S. government debt prices were slightly lower on Thursday as investors await Treasury auctions and fresh economic data. The yield on the benchmark 10-year Treasury note, which moves inversely to price, was slightly higher at around 1.7932%, while the yield on the 30-year Treasury bond was little changed at around 2.2323%. The Federal Reserve held interest rates steady in a target range of 1.5%-1.75% on Wednesday, as many had expected, and indicated it would likely not make any policy changes t


U.S. government debt prices were slightly lower on Thursday as investors await Treasury auctions and fresh economic data.
The yield on the benchmark 10-year Treasury note, which moves inversely to price, was slightly higher at around 1.7932%, while the yield on the 30-year Treasury bond was little changed at around 2.2323%.
The Federal Reserve held interest rates steady in a target range of 1.5%-1.75% on Wednesday, as many had expected, and indicated it would likely not make any policy changes t
Treasury yields rise slightly after Fed holds interest rates steady Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: sam meredith
Keywords: news, cnbc, companies, target, interest, rise, steady, fed, yields, yield, unchanged, unanimous, slightly, rates, reserve, recent, treasury, holds


Treasury yields rise slightly after Fed holds interest rates steady

U.S. government debt prices were slightly lower on Thursday as investors await Treasury auctions and fresh economic data.

The yield on the benchmark 10-year Treasury note, which moves inversely to price, was slightly higher at around 1.7932%, while the yield on the 30-year Treasury bond was little changed at around 2.2323%.

The Federal Reserve held interest rates steady in a target range of 1.5%-1.75% on Wednesday, as many had expected, and indicated it would likely not make any policy changes through at least 2020.

The U.S. central bank’s decision to keep borrowing costs unchanged was unanimous, following several dissents in recent meetings.


Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: sam meredith
Keywords: news, cnbc, companies, target, interest, rise, steady, fed, yields, yield, unchanged, unanimous, slightly, rates, reserve, recent, treasury, holds


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Art Hogan sets S&P 500 price target for 2020 at 3,450

The S&P 500 could see another year of double-digit gains in 2020 as investors circle back to stock groups they left behind in 2019, says Art Hogan of National Securities. The firm’s chief market strategist has now set his 2020 price target for the S&P 500 to 3,450, one of the highest on Wall Street. “We’re seeing the momentum side sell off, and I think that’s a healthy thing. “It’s been three years since the Russell … has actually done better than the S&P 500,” Hogan said. So, I think that’s a


The S&P 500 could see another year of double-digit gains in 2020 as investors circle back to stock groups they left behind in 2019, says Art Hogan of National Securities.
The firm’s chief market strategist has now set his 2020 price target for the S&P 500 to 3,450, one of the highest on Wall Street.
“We’re seeing the momentum side sell off, and I think that’s a healthy thing.
“It’s been three years since the Russell … has actually done better than the S&P 500,” Hogan said.
So, I think that’s a
Art Hogan sets S&P 500 price target for 2020 at 3,450 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: lizzy gurdus
Keywords: news, cnbc, companies, think, 500, smallcap, art, hogan, 3450, sell, going, trade, thats, 2020, price, target, sets, confidence


Art Hogan sets S&P 500 price target for 2020 at 3,450

Call it a strong start to the decade.

The S&P 500 could see another year of double-digit gains in 2020 as investors circle back to stock groups they left behind in 2019, says Art Hogan of National Securities. The index is up more than 25% in 2019, on pace for its best year since 2013.

The firm’s chief market strategist has now set his 2020 price target for the S&P 500 to 3,450, one of the highest on Wall Street. His target is a nearly 10% climb from the current level.

“We think we can do better if things go right,” Hogan said Wednesday on CNBC’s “Trading Nation.” “What’s different this year is I think the drivers are going to be not the momentum names and not the defensive names. That was the barbell approach of 2019.”

With the Federal Reserve staying put on monetary policy for now and the United States and China seemingly close to a “phase one” trade deal, Hogan said the removal of uncertainty next year will likely lead investors to reconsider buying into underloved groups.

“We’re seeing the momentum side sell off, and I think that’s a healthy thing. I think we’re seeing people start to look at financials. I think that’s really important,” he said. “I think health care’s going to do well in [2020], but it’s going to be health care away from the facilities and the insurance companies. It’s going to be the biotechs and the med techs.”

Hogan’s third pick fell out of favor even before this year: the Russell 2000 of small-cap stocks.

“It’s been three years since the Russell … has actually done better than the S&P 500,” Hogan said. “That doesn’t happen, historically. It’s starting to close that gap a little bit. It got as wide as 600 basis points. It’s down to 400 basis points. … So, I think that’s a gap that closes in the front half of 2020 and I think small-cap stocks will finally get some attention.”

Hogan said he expects a steady 2% growth in the U.S. economy in 2020, and that should help push the largely domestic small-cap index higher.

At this point, the biggest risks to his bull case are trade and overconfidence.

“If the trade war escalates, all bets are off. So, if we don’t delay Sunday’s next tranche of tariffs, if we actually go even further into tariff land and this really escalates, I think we go into recession,” he warned. “The [other] thing that really concerns me the most is that investors look at the fact that, all of a sudden, we have a truce in the U.S.-China trade war, and there’s no immediate reaction in the economic data.”

With the gap between consumer and corporate confidence “as wide as we’ve ever seen it,” the desire for corporate confidence to catch up could skew next year’s market performance, Hogan said.

Because the “lag” between higher corporate confidence and companies actually starting to spend money could last for one or two quarters, it can create a “buy the rumor, sell the news” effect among overeager buyers, he said.

“Economic data probably improves on the back end when we get the confidence back from the uncertainty around trade, but it’s not going to be immediate,” Hogan said. “You might get worried about that, ‘Hey, we bought on the rumor of this trade truce, now we’re going to sell on the news because we’re not seeing manufacturing data improve immediately.’ Well, that doesn’t happen immediately. If you and I are thinking about building a plant, we put that decision off for a while. We don’t do that in 48 hours; we do that in a couple of quarters.”

Stocks jumped Thursday after President Donald Trump said the U.S. is “getting very close” to a deal with China.


Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: lizzy gurdus
Keywords: news, cnbc, companies, think, 500, smallcap, art, hogan, 3450, sell, going, trade, thats, 2020, price, target, sets, confidence


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Buy the pullback in Home Depot, says Credit Suisse as it upgrades the stock

An employee wears an orange Home Depot Inc. apron at a store in New York. Buy the pullback and reset in growth expectations for Home Depot, said Credit Suisse. The firm upgraded shares of the home improvement retailer to outperform from neutral and raised its price target to $235 from $225 per share. “We believe HD offers an attractive risk/reward now after its recent pullback, and yesterday’s guidance reset, with optionality on improving external and internal drivers in FY20,” said Credit Suiss


An employee wears an orange Home Depot Inc. apron at a store in New York.
Buy the pullback and reset in growth expectations for Home Depot, said Credit Suisse.
The firm upgraded shares of the home improvement retailer to outperform from neutral and raised its price target to $235 from $225 per share.
“We believe HD offers an attractive risk/reward now after its recent pullback, and yesterday’s guidance reset, with optionality on improving external and internal drivers in FY20,” said Credit Suiss
Buy the pullback in Home Depot, says Credit Suisse as it upgrades the stock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, wears, stock, suisse, buy, yorkbuy, yesterdays, depot, upgrades, upgraded, target, reset, credit, suissethe, pullback


Buy the pullback in Home Depot, says Credit Suisse as it upgrades the stock

An employee wears an orange Home Depot Inc. apron at a store in New York.

Buy the pullback and reset in growth expectations for Home Depot, said Credit Suisse.

The firm upgraded shares of the home improvement retailer to outperform from neutral and raised its price target to $235 from $225 per share.

“We believe HD offers an attractive risk/reward now after its recent pullback, and yesterday’s guidance reset, with optionality on improving external and internal drivers in FY20,” said Credit Suisse research analyst Seth Sigman in a note to clients on Thursday.


Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, wears, stock, suisse, buy, yorkbuy, yesterdays, depot, upgrades, upgraded, target, reset, credit, suissethe, pullback


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Buy the pullback in Home Depot, says Credit Suisse as it upgrades the stock

An employee wears an orange Home Depot Inc. apron at a store in New York. Buy the pullback and reset in growth expectations for Home Depot, said Credit Suisse. The firm upgraded shares of the home improvement retailer to outperform from neutral and raised its price target to $235 from $225 per share. “We believe HD offers an attractive risk/reward now after its recent pullback, and yesterday’s guidance reset, with optionality on improving external and internal drivers in FY20,” said Credit Suiss


An employee wears an orange Home Depot Inc. apron at a store in New York.
Buy the pullback and reset in growth expectations for Home Depot, said Credit Suisse.
The firm upgraded shares of the home improvement retailer to outperform from neutral and raised its price target to $235 from $225 per share.
“We believe HD offers an attractive risk/reward now after its recent pullback, and yesterday’s guidance reset, with optionality on improving external and internal drivers in FY20,” said Credit Suiss
Buy the pullback in Home Depot, says Credit Suisse as it upgrades the stock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, wears, stock, suisse, buy, yorkbuy, yesterdays, depot, upgrades, upgraded, target, reset, credit, suissethe, pullback


Buy the pullback in Home Depot, says Credit Suisse as it upgrades the stock

An employee wears an orange Home Depot Inc. apron at a store in New York.

Buy the pullback and reset in growth expectations for Home Depot, said Credit Suisse.

The firm upgraded shares of the home improvement retailer to outperform from neutral and raised its price target to $235 from $225 per share.

“We believe HD offers an attractive risk/reward now after its recent pullback, and yesterday’s guidance reset, with optionality on improving external and internal drivers in FY20,” said Credit Suisse research analyst Seth Sigman in a note to clients on Thursday.


Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, wears, stock, suisse, buy, yorkbuy, yesterdays, depot, upgrades, upgraded, target, reset, credit, suissethe, pullback


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SoftBank-backed OneConnect slashes IPO by 28%, lowers target valuation

OneConnect set a price range of $9 to $10 per share for its initial public offering of 26 million shares, down from the $12 to $14 per share range it had set earlier. The company also downsized the offering from 36 million American depositary shares (ADSs) to 26 million ADSs. OneConnect, a unit of China’s biggest insurer by market value, Ping An Insurance Group Co of China, counts Japan’s SoftBank and Japanese financial firm SBI Group as some of its main investors. That is well below its $7.5 bi


OneConnect set a price range of $9 to $10 per share for its initial public offering of 26 million shares, down from the $12 to $14 per share range it had set earlier.
The company also downsized the offering from 36 million American depositary shares (ADSs) to 26 million ADSs.
OneConnect, a unit of China’s biggest insurer by market value, Ping An Insurance Group Co of China, counts Japan’s SoftBank and Japanese financial firm SBI Group as some of its main investors.
That is well below its $7.5 bi
SoftBank-backed OneConnect slashes IPO by 28%, lowers target valuation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-12
Keywords: news, cnbc, companies, softbankbacked, target, offering, valuation, million, range, weworks, firm, softbank, share, financial, companies, oneconnect, ipo, lowers, slashes


SoftBank-backed OneConnect slashes IPO by 28%, lowers target valuation

Ping An Insurance’s OneConnect Financial Technology on Wednesday downsized its planned U.S. initial public offering by 28% and lowered its target valuation, dealing yet another blow to its investor SoftBank, which is still reeling from the fallout of WeWork’s failed listing.

OneConnect set a price range of $9 to $10 per share for its initial public offering of 26 million shares, down from the $12 to $14 per share range it had set earlier.

The company also downsized the offering from 36 million American depositary shares (ADSs) to 26 million ADSs.

OneConnect, a unit of China’s biggest insurer by market value, Ping An Insurance Group Co of China, counts Japan’s SoftBank and Japanese financial firm SBI Group as some of its main investors.

The upper end of the price range values OneConnect at about $3.64 billion.

That is well below its $7.5 billion valuation last year when it raised $750 million in its maiden funding round from investors including Japan’s SoftBank and Japanese financial firm SBI Group.

The float comes as tech investor SoftBank smarts from the abandoned share sale of major portfolio firm WeWork, as well as its first quarterly loss in 14 years dragged down by an $8.9 billion hit at its giant Vision Fund, through which it invested in OneConnect.

Several other potential stock market listings have been pushed back since the collapse of WeWork’s planned launch in September and investment bankers are concerned that the trend may continue next year.

Some 44 companies have pulled their U.S. IPO registrations in 2019 as of Dec. 3, up almost 50% from 2018 and the highest level since 2016, according to IPO research firm Renaissance Capital.

“I think this (the recent turbulence in capital markets) will cause some companies to pause on IPO plans, especially those with weak unit economics and not a clear path to profitability — they will delay IPOs or start to pursue sale opportunities instead,” said Kristine Di Bacco, a partner at Canadian corporate law firm Torys LLP.

“I think really good companies (Airbnb, for example) will not be deterred and will still plan to IPO.”


Company: cnbc, Activity: cnbc, Date: 2019-12-12
Keywords: news, cnbc, companies, softbankbacked, target, offering, valuation, million, range, weworks, firm, softbank, share, financial, companies, oneconnect, ipo, lowers, slashes


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Credit Suisse cuts profit goals as revenue hopes fall short

Credit Suisse cut a key profitability target for this year and next as a drop in dealmaking, negative interest rates and uncertainty caused by global trade tensions dimmed the outlook. The Zurich-based bank also cut its forecast for next year. “If markets are constructive and support revenue growth, we would expect our year-end 2020 RoTE to be approximately 11%,” the bank said in a statement ahead of an investor day in London. Credit Suisse previously aimed to achieve 11-12% RoTE in 2020. Credit


Credit Suisse cut a key profitability target for this year and next as a drop in dealmaking, negative interest rates and uncertainty caused by global trade tensions dimmed the outlook.
The Zurich-based bank also cut its forecast for next year.
“If markets are constructive and support revenue growth, we would expect our year-end 2020 RoTE to be approximately 11%,” the bank said in a statement ahead of an investor day in London.
Credit Suisse previously aimed to achieve 11-12% RoTE in 2020.
Credit
Credit Suisse cuts profit goals as revenue hopes fall short Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-11
Keywords: news, cnbc, companies, credit, swiss, suisse, bank, goals, 2020, profit, cuts, ahead, revenue, target, division, cut, fall, short, hopes, markets, rote


Credit Suisse cuts profit goals as revenue hopes fall short

Credit Suisse cut a key profitability target for this year and next as a drop in dealmaking, negative interest rates and uncertainty caused by global trade tensions dimmed the outlook.

Switzerland’s second-largest lender said on Wednesday it expects to hit a return on tangible equity (RoTE) above 8% this year, below its previous target of 10-11%. The Zurich-based bank also cut its forecast for next year.

“If markets are constructive and support revenue growth, we would expect our year-end 2020 RoTE to be approximately 11%,” the bank said in a statement ahead of an investor day in London.

“Conversely, should markets remain challenging in 2020, we have identified up to 50 basis points of additional cost measures in order to protect our RoTE ambition of approximately 10%.”

Credit Suisse previously aimed to achieve 11-12% RoTE in 2020.

The bank will present its first investor update since completing a three-year restructuring in 2018 which cut back its investment banking activities, boosted cooperation with wealth management, and whittled down costs.

While performance at its Global Markets trading division, the focus of previous criticism, has picked up in 2019, revenues have fallen in its investment banking and capital markets business due to floundering M&A activity. Credit Suisse now expects the division to make a loss this year.

The bank last month appointed new leadership to the division and aims to bolster its M&A activity by adding more bankers to advise deals in growth industries including technology and healthcare.

“Looking ahead to 2020, we are working on actions that will reinvigorate the division, building on a strongly improving pipeline, which we expect will put us in a more advantageous position compared to 2019,” it said on Wednesday.

The Swiss lender said it expected to distribute at least 50% of net income to shareholders looking ahead to 2020 by growing its dividend at least 5% annually, and through a share buyback of 1-1.5 billion Swiss francs.


Company: cnbc, Activity: cnbc, Date: 2019-12-11
Keywords: news, cnbc, companies, credit, swiss, suisse, bank, goals, 2020, profit, cuts, ahead, revenue, target, division, cut, fall, short, hopes, markets, rote


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BMO downgrades UPS, says path to improving profitability is ‘challenging’

A UPS driver pushes a load of packages from his truck to a building in downtown Los Angeles, California, July 22, 2019. UPS was downgraded on Wednesday by an analyst at BMO Capital Markets who cited concern about the logistics company’s ability to improve its profitability. Analyst Fadi Chamoun lowered his UPS rating to market perform from outperform. He also trimmed his price target on the stock to $123 per share from $125. That represents a 3.7% upside from Tuesday’s close of $118.54.


A UPS driver pushes a load of packages from his truck to a building in downtown Los Angeles, California, July 22, 2019.
UPS was downgraded on Wednesday by an analyst at BMO Capital Markets who cited concern about the logistics company’s ability to improve its profitability.
Analyst Fadi Chamoun lowered his UPS rating to market perform from outperform.
He also trimmed his price target on the stock to $123 per share from $125.
That represents a 3.7% upside from Tuesday’s close of $118.54.
BMO downgrades UPS, says path to improving profitability is ‘challenging’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-11  Authors: fred imbert
Keywords: news, cnbc, companies, ups, target, path, trimmed, profitability, bmo, truck, improving, downgrades, upside, tuesdays, represents, share, challenging, stock, rating


BMO downgrades UPS, says path to improving profitability is 'challenging'

A UPS driver pushes a load of packages from his truck to a building in downtown Los Angeles, California, July 22, 2019.

UPS was downgraded on Wednesday by an analyst at BMO Capital Markets who cited concern about the logistics company’s ability to improve its profitability.

Analyst Fadi Chamoun lowered his UPS rating to market perform from outperform. He also trimmed his price target on the stock to $123 per share from $125. That represents a 3.7% upside from Tuesday’s close of $118.54.


Company: cnbc, Activity: cnbc, Date: 2019-12-11  Authors: fred imbert
Keywords: news, cnbc, companies, ups, target, path, trimmed, profitability, bmo, truck, improving, downgrades, upside, tuesdays, represents, share, challenging, stock, rating


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Analysts are getting a lot more bullish on Apple, with one seeing the stock topping $300 next year

Tim Cook, CEO of Apple laughs while Lana Del Rey (with iPad) takes a photo during a launch event at the Brooklyn Academy of Music on October 30, 2018 in New York City. Bank of America and Evercore ISI both raised their price targets on Apple shares on Wednesday, with the former expecting strong demand for 5G iPhones beginning next year while the latter firm sees solid holiday demand for Apple’s wearables. Apple shares rose 0.6% in trading from its previous close of $268.48. Bank of America raise


Tim Cook, CEO of Apple laughs while Lana Del Rey (with iPad) takes a photo during a launch event at the Brooklyn Academy of Music on October 30, 2018 in New York City.
Bank of America and Evercore ISI both raised their price targets on Apple shares on Wednesday, with the former expecting strong demand for 5G iPhones beginning next year while the latter firm sees solid holiday demand for Apple’s wearables.
Apple shares rose 0.6% in trading from its previous close of $268.48.
Bank of America raise
Analysts are getting a lot more bullish on Apple, with one seeing the stock topping $300 next year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-11  Authors: michael sheetz
Keywords: news, cnbc, companies, evercore, getting, 300, target, analysts, bullish, price, raised, current, apple, shares, apples, topping, share, demand, stock, lot, seeing


Analysts are getting a lot more bullish on Apple, with one seeing the stock topping $300 next year

Tim Cook, CEO of Apple laughs while Lana Del Rey (with iPad) takes a photo during a launch event at the Brooklyn Academy of Music on October 30, 2018 in New York City.

Bank of America and Evercore ISI both raised their price targets on Apple shares on Wednesday, with the former expecting strong demand for 5G iPhones beginning next year while the latter firm sees solid holiday demand for Apple’s wearables.

Apple shares rose 0.6% in trading from its previous close of $268.48.

Bank of America raised its price target to $290 a share from $270 a share, representing an 8% Apple stock increase from current levels. Evercore raised its price target to $305 a share from $275 a share, a nearly 14% climb from Apple’s current price.


Company: cnbc, Activity: cnbc, Date: 2019-12-11  Authors: michael sheetz
Keywords: news, cnbc, companies, evercore, getting, 300, target, analysts, bullish, price, raised, current, apple, shares, apples, topping, share, demand, stock, lot, seeing


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BMO downgrades UPS, says path to improving profitability is ‘challenging’

A UPS driver pushes a load of packages from his truck to a building in downtown Los Angeles, California, July 22, 2019. UPS was downgraded on Wednesday by an analyst at BMO Capital Markets who cited concern about the logistics company’s ability to improve its profitability. Analyst Fadi Chamoun lowered his UPS rating to market perform from outperform. He also trimmed his price target on the stock to $123 per share from $125. That represents a 3.7% upside from Tuesday’s close of $118.54.


A UPS driver pushes a load of packages from his truck to a building in downtown Los Angeles, California, July 22, 2019.
UPS was downgraded on Wednesday by an analyst at BMO Capital Markets who cited concern about the logistics company’s ability to improve its profitability.
Analyst Fadi Chamoun lowered his UPS rating to market perform from outperform.
He also trimmed his price target on the stock to $123 per share from $125.
That represents a 3.7% upside from Tuesday’s close of $118.54.
BMO downgrades UPS, says path to improving profitability is ‘challenging’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-11  Authors: fred imbert
Keywords: news, cnbc, companies, ups, target, path, trimmed, profitability, bmo, truck, improving, downgrades, upside, tuesdays, represents, share, challenging, stock, rating


BMO downgrades UPS, says path to improving profitability is 'challenging'

A UPS driver pushes a load of packages from his truck to a building in downtown Los Angeles, California, July 22, 2019.

UPS was downgraded on Wednesday by an analyst at BMO Capital Markets who cited concern about the logistics company’s ability to improve its profitability.

Analyst Fadi Chamoun lowered his UPS rating to market perform from outperform. He also trimmed his price target on the stock to $123 per share from $125. That represents a 3.7% upside from Tuesday’s close of $118.54.


Company: cnbc, Activity: cnbc, Date: 2019-12-11  Authors: fred imbert
Keywords: news, cnbc, companies, ups, target, path, trimmed, profitability, bmo, truck, improving, downgrades, upside, tuesdays, represents, share, challenging, stock, rating


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Analysts are getting a lot more bullish on Apple, with one seeing the stock topping $300 next year

Tim Cook, CEO of Apple laughs while Lana Del Rey (with iPad) takes a photo during a launch event at the Brooklyn Academy of Music on October 30, 2018 in New York City. Bank of America and Evercore ISI both raised their price targets on Apple shares on Wednesday, with the former expecting strong demand for 5G iPhones beginning next year while the latter firm sees solid holiday demand for Apple’s wearables. Apple shares rose 0.6% in trading from its previous close of $268.48. Bank of America raise


Tim Cook, CEO of Apple laughs while Lana Del Rey (with iPad) takes a photo during a launch event at the Brooklyn Academy of Music on October 30, 2018 in New York City.
Bank of America and Evercore ISI both raised their price targets on Apple shares on Wednesday, with the former expecting strong demand for 5G iPhones beginning next year while the latter firm sees solid holiday demand for Apple’s wearables.
Apple shares rose 0.6% in trading from its previous close of $268.48.
Bank of America raise
Analysts are getting a lot more bullish on Apple, with one seeing the stock topping $300 next year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-11  Authors: michael sheetz
Keywords: news, cnbc, companies, evercore, getting, 300, target, analysts, bullish, price, raised, current, apple, shares, apples, topping, share, demand, stock, lot, seeing


Analysts are getting a lot more bullish on Apple, with one seeing the stock topping $300 next year

Tim Cook, CEO of Apple laughs while Lana Del Rey (with iPad) takes a photo during a launch event at the Brooklyn Academy of Music on October 30, 2018 in New York City.

Bank of America and Evercore ISI both raised their price targets on Apple shares on Wednesday, with the former expecting strong demand for 5G iPhones beginning next year while the latter firm sees solid holiday demand for Apple’s wearables.

Apple shares rose 0.6% in trading from its previous close of $268.48.

Bank of America raised its price target to $290 a share from $270 a share, representing an 8% Apple stock increase from current levels. Evercore raised its price target to $305 a share from $275 a share, a nearly 14% climb from Apple’s current price.


Company: cnbc, Activity: cnbc, Date: 2019-12-11  Authors: michael sheetz
Keywords: news, cnbc, companies, evercore, getting, 300, target, analysts, bullish, price, raised, current, apple, shares, apples, topping, share, demand, stock, lot, seeing


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