Shares of Apple Inc. AAPL, -0.12% were initiated with a buy rating at Monness, Crespi, Hardt, and Co., after analyst Brian White joined the firm from Drexel Hamilton. "We view Apple as one of the most underappreciated stocks in the world with a valuation that remains depressed and our expectation that the company is poised to cross the $1 trillion market capitalization milestone over the next 12 months," wrote White, who has a $235 price target on the stock. He said that Apple could raise its shareholder-return program to $400 billion or $500 billion through 2019, up from $300 billion previously. White also wrote that Apple seems on track for its goal of doubling services revenue by fiscal 2020. Apple shares are down 0.3% in Wednesday morning trading and up 21% over the past 12 months, compared with a 17% rise for the Dow Jones Industrial Average DJIA, -0.41%