Wall Street Lauds Apple's (AAPL) New iPad, Many Analysts Bump Targets Higher

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Apple (Nasdaq: AAPL) shares are trading higher Thursday following the release of its "the new iPad" Wednesday. Initially met with mixed reception, Apple shares rebounded late in the session to close just about flat.

On Thursday a number of analysts have made some adjustments following the release:

• Goldman Sachs boosted its target another 10 percent to $660, still seeing continued tablet momentum with new voice tech and a lower iPad 2 price.
  
• ThinkEquity boosted its price target from $550 to $600;
  
• FBN increased its price target 12 percent to $730 over the next 12-month time frame;
  
• Wedbush maintained a $585 price target, but updated some other estimates; and
  
• Wells Fargo moved its valuation range from $550 - $575 to a new range of $620 - $640.

Elsewhere, Needham & Company thinks investors should focus on the software. An analyst at Canaccord Genuity said the firm is still impressed with the new device amid other offerings unveiled at CES and MWC. Finally, Deutsche Bank called the new iPad is simply unmatched.

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Analyst Comments, Analyst PT Change

Related Entities

Deutsche Bank, Needham & Company, ThinkEquity, Wells Fargo

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