ABN AMRO has initiated coverage on Apple today, setting a 12 month price target of US$25. The firm cited Appleis valuation as being attractive, and initiated coverage with an "Add" rating. The firm also noted that the computer industry remains weak.
AAPL has moved back and forth since ABN AMROis announcement this morning, trading on moderate volume. The stock opened 25 cents higher, but drifted as much as 40 cents lower in mid-morning trading. Currently, the stock has regained much of that loss and is trading down 14 cents (-0.73%), at 18.95 as of this writing.