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Apple price target raised at Evercore with $225 bull case on long-term growth
Outlining the "next set of 'multi-billion' dollar opportunities that could further drive value creation," Evercore maintains an Outperform rating on Appleand raises the price target from $163 to $175 with a bull case of $225 and a bear case of $90.Analyst Amit Daryanani remains focused on the Services and Wearables businesses, seeing a "clear path" to $100B in Services revenue by FY25 and $70B for Wearables. The growth should help drive margin expansion and "help smooth out" the cyclical nature
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