Apple upgraded to 'buy' at UBS
January 15, 2004 - 14:34 PST   UBS analyst Ben Reitzes has upgraded Apple to "buy" from "neutral", saying today's weakness in the stock is a buying opportunity given a number of positives at the company (sales of iPods and portables, and new products due in 2004). "The valuation now looks compelling, the shift to partnering is encouraging and retail profitability and sales momentum is encouraging," Reitzes said. UBS is raising its second-quarter estimates to 9 cents from 8 cents, factoring in 20 percent sales growth to $1.8 billion. The brokerage set its target price to $28.  [ Email this story ]

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