“‘We’re raising our Apple estimates ahead of what should be strong March-quarter results [but] we believe the stock reaction will be positive but somewhat muted,’ Oppenheimer analyst Yair Reiner wrote in a research note to clients. ‘The first reason is that F2Q10 EPS upside will probably be kept in check by FX headwinds—a factor largely overlooked by the Street. The other mitigating factor could be Apple’s hyperconservative guidance, which is likely to exclude the potential impact of the next iPhone release,'” Slash Lane Reports for AppleInsider.
More specifically, Reiner:
• raised his F2Q10 estimates to $12.4 billion in revenue and $2.54 in EPS from $12.2 billion and $2.40, respectively.
• pushed his FY10 estimates to $56.0 billion in revenue and $11.98 in EPS from $54.2 billion and $11.46, respectively.
• upped his FY11 estimates to $64.4 billion in revenue and $13.88 in EPS from $60.9 billion and $12.88, respectively.
• increased his FY10 operating FCF estimate to $12.5 billion ($13.56/share) from $11.8 billion ($12.83/share).
Lane reports that Reiner “sees Apple as a long term value and therefore raised his price target to $285 from $265.”
More information in the full article here.