FBN Raises Price Target on Apple (AAPL) to $730, Sets New Street High

FBN Securities' Shebly Seyrafi set a new Street-high price target on Apple (NASDAQ: AAPL) shares following the company's unveiling of "the new iPad" and a refreshed version of Apple TV. Seyrafi now sees Apple shares rising to $730 over the next year, up from a prior target of $650. The FBN analyst maintains an Outperform rating on the stock.

Seyrafi said most of the specs on the new iPad were as expected.

Barclays' Ben Reitzes comes in behind Seyrafi for Apple's Street-high target; on March 6th, Reitzes lifted his price target on Apple to $710.

With shares of Apple up nearly 0.7 percent to $534.25 Thursday morning, Seyrafi's new price target implies potential upside of about 37 percent.

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

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