Apple Inc. (AAPL) Coverage Initiated with a Buy and PT of $675 by Citi

Citi Research is out with a report on November 25th initiating coverage of Apple with a “Buy” rating and $675 price target, implying ~20% expected return. Shares of the iPhone maker closed at $571.50 a share in Friday's trading session. After a 28% correction since 09/21/12 (since recovered to down 19%), Apple shares are consistent with past corrections in its own history and that of its peers, according to Citigroup analysts. They note further that  with y/y growth expected to stabilize in 1H13,this...