Shares of Apple Inc. rose to a seventh straight gain Monday, after Morgan Stanley boosted its price target on the belief that bad news for this year could be great news for next year.
rose as much as 1.2% in intraday trade before paring gains to close up 52 cents, or 0.3%, at $149.56 The current win streak is now the longest such stretch since the seven-day streak ended Oct. 12, 2016.
The stock’s percentage gain was the fifth-biggest among the Dow Jones Industrial Average’s components, while the price gain added about points to the price of the Dow
which fell 8 points. See Market Snapshot.
Analyst Katy Huberty at Morgan Stanley raised her stock price target to $182, which is 22% above current levels, and 12% above the average price target — $162.12 — of the 44 analysts…