Skip to Content

Free TUAW iPhone app -- try it now!
AOL Tech

Filed under: Analysis / Opinion, Apple Financial

Citi reiterates AAPL 'buy' rating, cuts price target

Citi analyst Richard Gardner repeated the firm's "buy" recommendation for Apple stock, but reduced his estimate through 2011 to "reflect a more conservative view of consumer spending," according to the Associated Press.

Gardner reduced his 12-month price target to $132 from $153. He noted "soft" iPhone shipments in the last quarter of 2008 and conservative guidance for the first quarter of 2009 as reasons behind the cut.

"We view weakness as a buying opportunity," Gardner said. If Apple's stock were to drop by $7 or $8 before the company's Q1 2009 conference call on January 21, "[Citi] would be aggressive buyers." He expects the company will announce a profit of $1.42 per share for Q4 2008 during the call.

AAPL was down by about $1.45 in afternoon trading.

[Via Mac Observer.]

jobs & resumes
Lead Blogger

AOL Find a Job - New York, NY (4 weeks ago)

See More Relevant Jobs ›

Reader Comments (Page 1 of 1)

Tip of the Day

Use Spotlight as a reference tool. Type any word in the Spotlight box and one of the top entries will be a definition. Click on it, and it will bring up the dictionary application to check the word in either the dictionary, thesaurus, Apple database, or Wikipedia.


Follow us on Twitter!
 TUAW [Cafepress]

Featured Galleries

DNC Macs
Macworld 2008 Keynote
Macworld 2008 Build-up
Google Earth for iPhone
Podcaster
Storyist 2.0
AT&T Navigator Road Test
Bento for iPhone 1.0
Scrabble for iPhone
Tom Bihn Checkpoint Flyer Briefcase
Apple Vanity Plates
Apple booth Macworld 07
WorldVoice Radio
Quickoffice for iPhone 1.1.1
Daylite 3.9 Review
DiscPainter
Mariner Calc for iPhone
2009CupertinoBus
Crash Bandicoot Nitro Kart 3D
MLB.com At Bat 2009
Macworld Expo 2007 show floor

 

More Apple Analysis

AOL Radio TUAW on Stitcher