Caris & Co. ups target price, estimates on Apple Inc.

Caris & Company analyst Shebly Seyrafi today reiterated his “Above Average” rating on Apple Inc. (AAPL) and upped his price target to $200 from $170.

The analyst also raised his EPS estimates based on higher expectations for Mac and iPhone sales.

Seyrafi now expects Macintosh sales of 10 million units in fiscal year 2008 and 12.9 million Mac units in 2009, up from 9.6 million and 12 million, respectively. The analyst increased his iPhone estimates to 10.2 million units in in fiscal year 2008 and 17.9 million in ’09, from 10 million and 16.6 million, respectively.

Seyrafi now expects 2008 Earning Per Share (EPS) of $5.35, up from $5.21 and, in 2009, sees EPS of $6.32, up from $5.79.

[Thanks to MacDailyNews Reader “Judge Bork” for the heads up.]

17 Comments

  1. Why is it news when an analyst whose price target is $X below the current stock price rationalizes setting it $X above the current price? If he didn’t have a clue before, why should I believe he has one now?

  2. @Demon
    Wait till June hits and things will get interesting. It will probably be best to buy or hold stock you have now then sell after the new iphone is out. because some lame analyst will be mad he didn’t buy in and stock will drop then they buy it all up then say it’s a great time to buy.

  3. I can’t believe these “analysts”. A few months back everyone was downgrading Apple on valuation concerns, lagging ipod/iphone sales, etc. Then the stock drops to $120/share. Suddenely, Apple isn’t so bad after all. Even Cramer did an about-face on the stock.

    You really can’t make stock decisions based on these guys…….

  4. ridiculous, they upgrade the target value to something AAPL will reach within a few weeks, 250 seems more realistic.

    sell first week of januari, and buy 3 weeks later, that pattern has been the right one for years and years.

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