JPMorgan Boosts Target on Apple (AAPL) to $230; Reiterates 'Overweight'

December 14, 2009 8:57 AM EST
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Price: $119.97 -0.09%

Rating Summary:
    59 Buy, 11 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
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JPMorgan raises its price target on Apple (Nasdaq: AAPL) from $220 to $230 this morning. The firm reiterates its Overweight rating on Apple shares.

In a note to clients, JPMorgan also boosted its Q1 EPS estimate from $1.97 to $2.07. The analyst consensus is currently $2.04.

The stock is indicated about 0.5% higher in the pre-market session. The last trade in Apple was at $195.65, suggesting upside of almost 18% to the firm's new price target.

Visit our Analyst Ratings page to see all the market-moving analyst calls on shares of Apple.

Apple Inc., together with subsidiaries, designs, manufactures, and markets personal computers, mobile communication devices, and portable digital music and video players, as well as sells various related software, services, peripherals, and networking solutions.

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