- KeyBanc analyst Brandon Nispel had an Overweight rating on Apple Inc (NASDAQ:AAPL) with a price target of $191.
- Nispel recommended owning AAPL.
- Apple's user base is growing across products and geographies; its user growth fuels growth in services, creating Apple's ecosystem competitive advantage, Nispel noted.
- Nispel saw growth and margin upside, strong shareholder-friendly capital allocation, and potential for new products and services, which created a strong investment profile.
- While Nispel found Apple expensive by historical valuations, he found it attractive relative to other mega-caps, given AAPL's superior ROIC characteristics.
- Price Action: AAPL shares traded lower by 1.23% at $146.14 on the last check Thursday.
