Citi raised its price target on Apple’s stock to $300 from $250, as the firm told investors it expects stronger sales and profits this holiday gift-giving season in a note titled “Why this Christmas is Different for Apple.”
Apple shares rose 0.7% in premarket trading from its previous close of $261.74. Citi has a buy rating on Apple and the firm’s new price target represents a 15% climb in the stock from its current levels.
