Barclays raised the firm’s price target on Apple to $187 from $164 and keeps an Underweight rating on the shares. The firm raised September quarter forecasts on better iPhone, Mac and Services, which it says hasn’t happened in several quarters. The analyst now expects 9% revenue growth in 2025 for Apple after two flattish years. While numbers are “finally moving higher” and hope for the artificial intelligence iPhone will help investor sentiment, Barclays sees less scope for upside with the stock at a 30-times price-to-earnings multiple, the analyst tells investors in a research note.
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