Canaccord Genuity analyst T. Michael Walkley – who previously worked at Piper Jaffray – this morning launched coverage of Apple (AAPL) with a Buy rating and $356 price target.
“We believe Apple�s industry-leading software ecosystem (over 120 million installed base of iOS device sales) and its leading hardware expertise will lead to a strong multi-year product cycle for its key products,” Walkley wrote in a research note. “In fact, our checks indicate strong [second half 2010] demand for iPhone 4 and iPad products, and we believe the refreshed iPod portfolio will sell well this holiday season.”
AAPL, once again trading at a new all-time high, is up $3.96, or 1.4%, to $287.19.
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