Caris & Co. analyst Shebly Seyrafi has upped his target price on Apple Inc. (AAPL) from $165 to $175.
Seyrafi has also increased his EPS targets to $3.91 from $3.87 for fiscal 2007, to $4.61 from $4.47 for 2008, and to $5.48 from $5.08 for 2009.
Seyrafi’s higher estimates are based on strong Mac sales and increased iPhone unit growth following the new price point.
The analyst estimates iPhone sales of 1.4 million units, up from 1 million, for the September quarter. Seyrafi also estimates calendar 2009 Mac sales of 12.1 million units, up from 9.8 million, noting that “the PC market is strong and AAPL is a share gainer.”