Another new upgrade for Apple Inc. (AAPL). The company was initiated this morning by Ticonderoga Securities analyst Brian White with a ‘Buy’ rating and a whopping $430 price target.
The firm’s analyst believes Apple is “still in the early stages of capitalizing on the trend toward smartphones and the digital lifestyle, while positioning itself to take advantage of large market opportunities in the enterprise, advertising, “cloud computing” and social networking.”
White thinks Apple is as an attractive Buy at current levels, citing the co. as having one of the hottest product lineups this holiday season with the new iPhone 4, and the iPad. White also said his firm sees Apple “as one of the best positioned companies in the tech world to weather a tough economy.”
Shares of Apple, whose support levels to watch are at $279.01, $275 and $273.19, are lower on the session by $4.62, or 1.64%, currently trading at $277.90.
If Apple shares reach White’s price target of $430 p/sh, the co. would have a market cap of more than $390 billion and will be the single highest market capitalization co. in the world.