Barclays Maintains Underweight on Apple, Raises Price Target to $164
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Tim Long has maintained an Underweight rating on Apple (AAPL) but raised the price target from $158 to $164.

May 03, 2024 | 2:16 pm
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Barclays maintains an Underweight rating on Apple but increases the price target from $158 to $164.
The adjustment in price target by Barclays, despite maintaining an Underweight rating, suggests a cautious but slightly more optimistic outlook on Apple's stock value. The increase in price target could be interpreted by the market as a positive signal, potentially leading to short-term positive sentiment among investors. However, the Underweight rating indicates that Barclays still has concerns about Apple's valuation or future prospects, which tempers the potential positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100