RBC Capital Believes Apple (NASDAQ: AAPL) Still Has Room to Grow

By Jason Carr

In a report released today, Amit Daryanani from RBC Capital assigned a Buy rating to Apple (NASDAQ: AAPL), with a price target of $180. The company’s shares opened today at $158.99, close to its 52-week high of $164.94.

According to TipRanks.com, Daryanani is a top 25 analyst with an average return of 24.5% and a 87.4% success rate. Daryanani covers the Consumer Goods sector, focusing on stocks such as Brocade Communication Systems Inc, Hewlett Packard Enterprise, and Benchmark Electronics.

Currently, the analyst consensus on Apple is Moderate Buy and the average price target is $173.11, representing an 8.9% upside.

In a report issued on August 30, Canaccord Genuity also maintained a Buy rating on the stock with a $180 price target.

Apple’s market cap is currently $825.4B and has a P/E ratio of 18.14. The company has a book value ratio of 6.2326.

Based on the recent corporate insider activity of 81 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 $5,515,300.

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.