Jefferies Sticks With $800 Target on Apple (AAPL) Following Strong Q2

Jefferies reiterated its Buy rating and $800 price target on Apple (NASDAQ: AAPL) following strong Q2 results.

The firm raised FY12 EPS from $45.90 to $47.47.

Analyst Peter Misek comments, "Apple reported strong FQ2 results driven by international iPhone sales and strength in iPad driven by the refresh. As we expected, guidance is cautious, but we see this as per Apple’s practice. We view these results as affirming our thesis that Apple remains one of only two high/mid-tier smartphone OEMs (along with Samsung) that can win in the near term."

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 $560.28 yesterday.

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