Apple price target raised at Deutsche Bank as growth estimates are too low
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Apple (NASDAQ:AAPL) is getting some positive commentary from Wall Street, as Deutsche Bank boosted its price target, noting that Wall Street estimates for revenue growth this year are too low.
Analyst Sidney Ho raised the price target to $200, from $175, while reiterating a buy rating, pointing out that Wall Street is only expecting 5% revenue growth this year and with some revenue being pushed out from 2021, which should account for 3% of growth, there is likely to be an "upward bias to estimates as we go through the year. "

"In the near term, while we see supply chain constraints again being a headwind to revenue, we believe the supply chain has improved at a faster pace, with iPhone wait times shortening to only a few days, and that should be enough to drive a 'beat-and-raise,'" Ho wrote in a note to clients.
Apple (AAPL) shares are down almost 1.5% to $170.58 in pre-market trading on Tuesday.
Loop Capital recently raised its price target on Apple (AAPL) to $210, tying a Wall Street high, on near-term iPhone strength.