Apple: Collins Stewart Upgrades; BMO Capital Ups Target

Collins Stewart analyst Ashok Kumar this morning upped his rating on Apple (AAPL) to Buy from Hold, setting a $170 price target.

Kumar contends that Apple will gain share in the smart phone segment from both Research In Motion (RIMM) and Microsoft (MSFT) Windows Mobile. He also writes that Google (GOOG) Android is “positioned to be a winner” in the sector.

So back to Apple. Kumar says that a low bill of materials should enable Apple to hit a $99 price point on an 8GB iPhone, stimulating demand. He says a launch with China Mobile (CHL) “is an additional near-term catalyst.” Further out, he thinks the launch of what he calls the “iPhone nano” in the first half of 2010 should help Apple further expand its share of the smart phone segment.

Read the rest of this post on the original site