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.]