BMO Capital Raises Price Target on Apple (AAPL) to $675, Lifts Estimates

BMO Capital raised estiamtes and its price target Outperform-rated Apple (NASDAQ: AAPL) from $590 to $675, following the better-than-expected new iPad launch and continued strength in the tablet market.

"Apple has material growth opportunities for the next several years, including
emerging opportunities with large corporations for tablet adoption," analyst Keith Bachman concludes.

The raised FY2012 EPS estimate to $43.50 from $42.33 (consensus $43.99). For FY2013, we are raising our EPS estimate to $50.35 from $49.55 (consensus $50.00).

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 $609.86 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• KeyBanc Reiterates Underweight Rating on Apple (AAPL)
• Honasa Consumer Ltd (HONASA:IN) PT Raised to INR720 at ICICI Securities
• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform