Jefferies & Co. analyst Peter Misek initiated coverage on Apple Inc. Tuesday with a “Buy” rating, which helped pushed shares in the company up some 3.7%.
Mr. Misek told clients that Apple has potential catalysts that could propel the company’s performance higher. Among them was the iPad, and specified that he believes Wall Street analysts are “vastly underestimating” the potential of the tablet market.
Shares in AAPL closed at US$288.94, a gain of 10.30 (+3.70%) on light volume of 17.5 million shares trading hands.
Apple reports earnings for the September quarter on October 18th, 2010.
*In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.