Stocks
Rothschild & Co Redburn Upgrades Apple to Strong-Buy
Rothschild & Co Redburn has upgraded Apple (NASDAQ:AAPL) to 'Strong-Buy' from 'Hold', citing potential growth from a foldable iPhone and strategic improvement in artificial-intelligence efforts.
The firm raised its price target to $400, up from $260. Analysts have been optimistic about Apple's prospects ahead of the company's September iPhone event.
Consumer spending is improving according to KeyBanc survey data, supporting expectations for a strong product cycle.