Apple (AAPL) PT Raised to $180 at Cantor Fitzgerald

Cantor Fitzgerald analyst Brian White reiterated a Buy rating and raised his price target on Apple (NASDAQ: AAPL) to $180.00 (from $160.00).

White commented, "Next month, Apple will enter its first new product category in five years, while media reports over the past several weeks have highlighted potential new areas of future innovation. Also, we believe Apple's iPhone portfolio and position in China have never been stronger. Finally, Apple has shown its commitment to returning cash to shareholders, and we expect more in April. We believe the combination of these forces will drive the market to reward Apple's stock with an expanded P/E multiple, and we are raising our 12-month price target to $180"

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 $125.90 yesterday.

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