Lehman Brothers raises Apple price target to $234 from $202

“Lehman Brothers raised its price target on Apple Inc. to $234 from $202 and cut AT&T Inc’s price target to $49 from $54, citing Apple’s announcement of the 3G iPhone at a discounted price tag,” Bijoy Koyitty reports for Reuters.

“Lehman Brothers analyst Ben Reitzes, who kept his ‘overweight’ rating on Apple, said the new price point of $199 and the company’s ability to drive multiple revenue streams would help the stock,” Koyitty reports.

“‘We believe existing revenue sharing arrangement (with Apple) costs AT&T $100 during the life of an iPhone customer,’ Lehman Brothers analyst Thomas Seitz, who kept his ‘overweight’ rating on the stock, wrote in a note to clients,” Koyitty reports.

Full article here.

[Thanks to MacDailyNews Reader “Mike in Helsinki” for the heads up.]