Barclays Capital reiterated its “overweight” rating on iPhone maker Apple Inc. with a price target of $340, as reported by “IB Times” (http://macosg.me/2/ry).
“We continue to believe Apple’s valuation is very attractive and believe shares can benefit driven by strong iPad demand, a new iPhone upgrade cycle, significant international expansion, and additional new products expected later this year,” said Ben Reitzes, an analyst at Barclays Capital.
The analyst said Apple’s stock has been performing over the past month in-line with the market, which has brought questions from investors after such a strong June quarter.
