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Last updateTue, 03 Mar 2015 12pm

 

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Apple Inc shares: 38% upside seen

JPMorgan set new target share price at 400.

JPMorgan set new target share price at 400.

 

Apple Inc (NASDAQ:AAPL) has been set a new target share price of 400 by the equity analyst team at JPMorgan Chase.

The target suggests there is a potential upside of 38.32% on Apple Inc stock from yesterday's close of 289.19.

The call by JPMorgan follows that made by Jefferies, the global investment bank.

Jefferies are less bullish on Apple having set their target share price at 365.

The call by the investment bank is a new rating.

It was a subdued days trade for Apple Inc on the Nasdaq, the stock could only muster 0.09% gains.

In futures trading the stock is lower in line with unsteady global equity markets.

US stocks ended mixed on Wednesday, with the Dow Jones modestly higher but the broader indexes weaker after a poor reading on private-sector employment raised concerns ahead of Friday's key U.S. jobs report, although it added to speculation about further quantitative easing from the Federal Reserve.

Asian stocks edged up to a two-year high on Thursday, supported by resource-related shares, but gains were capped and the US dollar held near a 15-year low against the yen by nerves ahead of that September jobs report.

The Bank of England is likely to be torn three ways for the first time since November, with dissenting voices arguing between a tighter or looser rate policy due to the highly uncertain economic outlook.

However, economists view the tangible outcome of the Monetary Policy Committee's October meeting as a foregone conclusion, and all 61 analysts polled by Reuters expect rates to stay at 0.5 percent.

 

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