Robert W. Baird analyst William Power launched coverage of Apple Thursday morning with an Outperform rating and US$410 price target, reports “Barron’s” (http://blogs.barrons.com/techtraderdaily/2010/11/04/apple-baird-launches-with-outperform-rating-410-target/?mod=yahoobarrons).
“Apple has established itself as the unabashed premium provider in the burgeoning smart phone market,” he tells clients in a research note. “We expect the company to further expand its market position, while also capitalizing on a number of newer growth initiatives, including the iPad, which is opening another huge market. Combined with what we view as an attractive valuation, despite the strong stock move, we are initiating coverage with an Outperform rating.”
