Citi Research projects $675 target price on Apple stock
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Citi Research projects $675 target price on Apple stock

In a note to clients -- as reported by "AppleInsider" (www.appleinsider.com) -- Citi Research, which began covering Apple stock on Monday, projects an US$675 target price with a recommendation to buy.

Citi's price target implies an expected return of about 20% from Apple stock. Citi Research noted that shares of Apple slid 28% on a "correction" that began on Sept. 21, which put it in line with past corrections in its own history, as well as those of its peers. Year-over-year growth at Apple is expected to stabilize in the first half of 2013, which Citi believes would set the company's stock on course for the $675 price target.

 
AAPL
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Apple Inc.
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MSFT
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Microsoft Corpora
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GOOG
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Google Inc.
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