Citi raised its price target on Apple (NASDAQ: AAPL) to $170.00 (from $160.00) while maintaining a Buy rating.

Analyst Jim Suva gives five reason he thinks the stock will trade "even higher":

1. Super Upgrade Cycle given new form factors launching in 2017,
2. Trump tax repatriation and reduce corporate taxes should boost capital returns and M&A potential,
3. Sticky user base drives strong services revenue growth,
4. Enterprise push mid term, Applewood longer term and,
5. Attractive valuation given upcoming super cycle.

FY 2017 EPS estimate rises from $8.55 to $9.02, FY 2018 EPS estimate rises from $10.92 to $11.07 and FY 2019 EPS estimate rises from $11.07 to $11.19.

Analyst Comments Analyst PT Change

Apple (AAPL) PT Raised to $180 at MacquarieAugust 2, 2017 9:09 AM Apple (AAPL) PT Raised to $175 at Nomura/InstinetAugust 2, 2017 8:34 AM Apple (AAPL) PT Raised to $175 at BernsteinAugust 2, 2017 8:31 AM Apple (AAPL) PT Raised to $175 at Needham & CompanyAugust 2, 2017 6:37 AM Apple (AAPL) PT Raised to $146 at BarclaysAugust 2, 2017 6:27 AM Apple (AAPL) PT Raised to $140 at Deutsche BankAugust 2, 2017 5:59 AM Apple (AAPL) PT Raised to $180 at BMO CapitalAugust 2, 2017 5:49 AM Apple (AAPL) PT Raised to $176 at RBC CapitalAugust 2, 2017 5:42 AM Apple (AAPL) PT Raised to $180 at UBSAugust 2, 2017 5:38 AM Apple (AAPL) PT Raised to $172 at BairdAugust 2, 2017 5:36 AM Apple (AAPL) PT Raised to $180 at Loop CapitalAugust 2, 2017 5:35 AM Apple (AAPL) PT Raised to $190 at Piper JaffrayAugust 2, 2017 5:34 AM Apple (AAPL) PT Raised to $150 at Wells FargoAugust 2, 2017 5:16 AM Apple (AAPL) PT Raised to $176 at JPMorganAugust 2, 2017 5:13 AM Apple (AAPL) PT Raised to $190 at GuggenheimAugust 2, 2017 5:09 AM Apple (AAPL) Q3 Results Are Positive For Q4 - StifelAugust 1, 2017 5:45 PM Apple (AAPL) Has Pleased Us - DrexelAugust 1, 2017 5:41 PM Apple (AAPL) Tops Q3 EPS by 10cAugust 1, 2017 4:30 PM