Scalper1 News
T he Apple Watch isn’t the only treat that Apple (AAPL) has in store for investors in April. The company is also scheduled to update its capital allocation plan and return more cash to shareholders. RBC Capital Markets analyst Amit Daryanani on Thursday reiterated his outperform rating on Apple stock and raised his price target to 140 from 130 on expectations for a dividend boost and increased share buybacks. Apple is able to announce a $65 billion annual capital allocation program in April, Daryanani said in a research report. It would equate to a 100% return of free cash flow. Apple could increase its cash dividend by 50% to get its yield to 2.2%, vs. the current 1.5%, Daryanani said. Apple’s current dividend yield is below the S&P 500 average of 2%. Daryanani sees other catalysts that also could drive Apple stock higher. They include the continued… Scalper1 News
Scalper1 News