Apple Gets a Buy Rating from Maxim Group

By Carrie Williams

Maxim Group analyst Nehal Chokshi reiterated a Buy rating on Apple (NASDAQ: AAPL) today and set a price target of $180. The company’s shares closed last Friday at $142.27.

Chokshi noted:

“A brief history on the success of our data driven approach to covering AAPL and the data that fortifies our view that AAPL is an attractive holding.”

According to TipRanks.com, Chokshi is a 4-star analyst with an average return of 14.3% and a 62.5% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.

Currently, the analyst consensus on Apple is Strong Buy and the average price target is $164.07, representing a 15.3% upside.

In a report issued on June 6, Drexel Hamilton also reiterated a Buy rating on the stock with a $202 price target.

Based on Apple’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $52.49 billion and quarterly net profit of $11.03 billion. In comparison, last year the company earned revenue of $50.23 billion and had a net profit of $10.52 billion.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock. Last month, Arthur Levinson, a Director at AAPL sold 35,000 shares for a total of $5,385,800.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.