Evercore ISI raised the firm’s price target on Apple (AAPL) to $365 from $330 and keeps an Outperform rating on the shares. The firm sees a path for Apple to compound earnings and free cash flow at a low-to-mid teens pace, even if iPhone units were to growth “modestly,” given durable Services growth and average selling price tailwinds from a shift toward premium models, says the analyst, who sees a “bull case target” of $500 for Apple shares.
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