Bank of America has raised its price target for Apple to $325, highlighting robust iPhone sales and anticipated growth in services revenue. The firm also increased price targets and ratings for multiple healthcare companies, including AbbVie and Molina Healthcare, reflecting a positive sentiment towards their performance in a recovering Medicaid market. Simultaneously, BofA downgraded Qualcomm and Ecolab, signaling a strategic realignment in its investment focus.
“Bank of America raised its price target on Apple (AAPL) to $325 from $320 with a Buy rating, betting the Street is underestimating near-term results driven by iPhone sales strength and Services revenue growth ahead of Q2 earnings on April 30.”