KeyBanc initiates coverage of Apple with $191 price target

Apple shares surged Monday after analysts at KeyBanc Capital Markets initiated coverage on the stock with a bullish outlook, citing growth in the tech giant’s services segment. Analyst Brandon Nispel rated the stock “Overweight” with a $191 price target.Sabrina Escobar for Barron’s:The target presents an 18% increase from Apple’s (ticker: AAPL ) $161.84 closing price on Friday. The stock was up 3.2% to $166.97 on Monday.
“While AAPL is expensive by historical