Wedbush Reiterates an 'Outperform' on Apple (AAPL); Raising Numbers After Much Better Than Expected Qtr
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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!
Wedbush reiterates an 'Outperform' on Apple (NASDAQ: AAPL) price target raised from $750 to $800.
Analyst, Scott Sutherland, said, "Given another blowout quarter, driven by robust iPhone sales, and solid iPad and Mac growth, upcoming product catalysts, and reasonably valuation at 8.5x adjusted CY13E EPS, Apple remains a top pick and on our Best Ideas list. While the next two quarters may be choppy, with a Mac refresh and likely introduction of an integrated Apple TV product, we recommend investors be positioned ahead of what will likely be a monster iPhone 5 upgrade late 2012."
Wedbush raises FY12 EPS estimate to $45.88 from $43.48 and FY13 to $52.00 from $48.65.
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 $560.28 yesterday, with a 52 week range of $310.50-$644.00.
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Analyst, Scott Sutherland, said, "Given another blowout quarter, driven by robust iPhone sales, and solid iPad and Mac growth, upcoming product catalysts, and reasonably valuation at 8.5x adjusted CY13E EPS, Apple remains a top pick and on our Best Ideas list. While the next two quarters may be choppy, with a Mac refresh and likely introduction of an integrated Apple TV product, we recommend investors be positioned ahead of what will likely be a monster iPhone 5 upgrade late 2012."
Wedbush raises FY12 EPS estimate to $45.88 from $43.48 and FY13 to $52.00 from $48.65.
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 $560.28 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
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