JP Morgan Raises Price Target On Apple (AAPL) to $210
JP Morgan lifted its price target today on Apple (Nasdaq: AAPL) from $170 to $210, telling investors to build positions in the stock ahead of the upcoming earnings season. The firm said the Apple story has staying power beyond the recent uptake in the broader equity markets. The firm is maintaining their Overweight rating on Apple.
Shares of Apple closed at $185.02 on Friday, providing 13.5% upside to JP Morgan's new price target.
The average price target on the Street for Apple is $195, and some recently have boosted their price target on Apple above the $250 level. Although he's not a sell-side analyst, Jim Cramer has the 'street high' price target on Apple of $264. It is surprising that the Wall Street price targets are so low on Apple, given that the stock continues to outperform. I guess no one wants to go out on a limb like they did in the go-go days. If things were the same, there is no doubt that someone would have slapped a $1000 target on Apple already.
For more analyst ratings, targets and comments on AAPL click here.
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