Slew of analysts rush to raise Apple price targets

12 Comments

“Price targets and estimates are going up pretty much across the board today as analysts hail a ‘massive’ Q1 beat,” Tiernan Ray reports for Barron’s.

“The average price target is now $557.85, and the average estimate for this fiscal year stands at $151.79 billion in revenue and $40.31 per share in profit,” Ray reports.

• R.W. Baird: “Outperform”; price target to $550 from $540
• Evercore Partners: “Overweight”; price target to $650 from $600
• Citigroup: “Buy”; price target to $600 from $500
• RBC Capital: “Outperform”; price target to $600 from $525
• Morgan Stanley: “Overweight”; price target from $480 to $515
• Canaccord Genuity: “Buy”; price target to $650 from $560
• Ticonderoga Securities: “Buy”; reiterates $666 price target
• Goldman Sachs: “Buy”; price target to $600 from $550

Read more in the full article here.

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12 Comments

  1. Be careful my friends…. The street is setting everyone up again…. They will get the price up… Then advise the institutions to sell… They will all make a ton… And then they will start all over again … Don’t be misled … The street loves Apple … It’s the one stock they can manipulate easily for continual profit 4 or 5 times a year.

    Reply

    1. Uhm, utter nonsense. The “Street” has been 90% buy or strong buy on Apple for years now. They haven’t shifted their recommendations willy-nilly like you say, 4 or 5 times a year.

      If you are an investor, don’t bother with short-term fluctuations, invest for the long-term.

      Right now the market is pricing Apple at 10x ttm earnings of $35. Add in the $100 in cash and you get $450. In the next 9 months, the market will realize that Apple will earn $50 to $55 a share on top of having $130 a share in cash, so this year alone should see $630, using the same ridiculously low PE multiple.

      Reply

      1. Correct Ken ….. 110% Correct …… But we may see the guys who get paid the BIG BUCKS actually raise their estimates more quickly than past years so we may not see as wild as swings ……

        Funny thing ….. You gotta wonder with all the monies on the line, shouldn’t they have a better idea ….. I mean employ some simple door counting stragety …… Gee whizz …..

        Reply

  5. The thing that’s mind-boggling is these results are with the phone that was “a disappointment”, “no iPhone 5 are they kidding?”, etc. Can you imagine what’s going to happen if Apple releases an iPhone 5 and iPad 3 this year?

    Even though everything is pretty much crap in the rest of the world I have to say watching this epic rise of Apple has to be the most historic and exciting business spectacle I’ve ever seen in my lifetime.

    Reply

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