Morgan Keegan Sees Apple (AAPL) Shares Rising to $800, Sets New Street-High Target

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Following a wave of estimate and target revisions (we count at least 10 raised price targets today alone) on Apple (Nasdaq: AAPL) following news of a dividend and buyback plan, Morgan Keegan's Tavis McCourt has come in with a late-day research note and trumped all the others.

Early Monday morning, Wedbush's Scott Sutherland set a new Street-high price target on Apple shares at $750. Shortly after, FBN's Shebly Seyrafi pushed his target to $760. And now McCourt's target sits at $800, up from a prior target of $650.

McCourt and Morgan Keegan maintain an Outperform rating on shares of Apple.

With the stock up about 2.3 percent to $599, McCourt's new price target represents potential upside of about 34 percent.

Track all the market-moving analyst calls on shares of Apple following the dividend/buyback news with our Analyst Ratings page.

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