Credit Suisse Goes To $750 on Apple (AAPL), Global Smarthphone Market at Just the Tip of the Iceberg
Tweet Send to a Friend
Get Alerts AAPL Hot Sheet
Price: $433.26 -0.3%
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade AAPL Now!
Credit Suisse raised its price target on Outperform-rated Apple (NASDAQ: AAPL) from $700 to $750 on Thursday.
The new price target bring the average consensus price target on Apple to $685.47, according to Ratings Insider, suggesting another 9.5% upside.
The firm also raised calendar year 2012 EPS on Apple by 5% to $50.14 and calendar 2013 EPS by 10% to $60.72.
The new price target comes after the firm raised global smarthphone sales estimates. Their 2012 global smartphone market forecast rises 9% to 688 million and 2013 rises 15% to 885 million. They see strength in both the high and low-end.
The longer-term addressable market for smartphones is 2.35 billion, they said. This suggests just 33% penetration currently.
For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.
Shares of Apple closed at $626.20 yesterday, with a 52 week range of $310.50-$644.00.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The new price target bring the average consensus price target on Apple to $685.47, according to Ratings Insider, suggesting another 9.5% upside.
The firm also raised calendar year 2012 EPS on Apple by 5% to $50.14 and calendar 2013 EPS by 10% to $60.72.
The new price target comes after the firm raised global smarthphone sales estimates. Their 2012 global smartphone market forecast rises 9% to 688 million and 2013 rises 15% to 885 million. They see strength in both the high and low-end.
The longer-term addressable market for smartphones is 2.35 billion, they said. This suggests just 33% penetration currently.
For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.
Shares of Apple closed at $626.20 yesterday, with a 52 week range of $310.50-$644.00.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Says Tesla (TSLA) 'Top Pick in U.S. Autos'
- Goldman Sachs Describes Cisco (CSCO) Q3 as 'Breakout Performance'
- Jefferies Buyers of Jack In The Box (JACK) on Solid Results
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst PT ChangeRelated Entities
Credit Suisse
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
