With Apple at $225, Nomura Instinet raises price target to $215

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From a note to clients snagged by MarketWatch:


Nomura Instinet analyst Jeffrey Kvaal upped his price target on shares of Apple Inc. to $215 from $210 on Friday, writing of “stabilizing” shipment times for the iPhone XS and XS Max. That “lifts visibility into the trajectory of two of the three new phones,” he said. Shipment times for the iPhone XS Max look “more robust than anticipated,” according to Kvaal, who said that Chinese consumers can get the phone within about a week while U.S. shoppers can get one after about two weeks. Shipment times for the iPhone XS are down to about five days. “We interpret this as a mix shift towards the Max, not higher demand,” Kvaal wrote.

Maintains Neutral rating and raises price target to $215 from $210.

My take: Just want to point out that this is the second time in three weeks that Kvaal has raised his 12-month price target below Apple’s current price. Meanwhile, waiting for the note.

See also: Apple: Why Nomura set an underwater price target ($210)