Apple (AAPL) Target Raised to $135 at Bernstein
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Bernstein analyst Toni Sacconaghi raised estimates and his price target on Outperform-rated Apple (NASDAQ: AAPL) to $135.00 (from $122.00) following blow-out results.
Sacconagh commented, "Apple's FY Q1 were a blow-out, with iPhone sales topping even the most nose-bleed buyside
expectations and gross margins significantly above the guidance range, driving an 18% EPS beat.The company's Q2 guidance was above consensus revenues and EPS (backing out expected Watch sales in the quarter). We are raising our FY 15 EPS estimates from $7.53 to $8.58, and our price target to $135 from $122. We have also added estimates for the Apple Watch to our models."
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 $109.14 yesterday.
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