Deutsche Bank analyst Jeriel Ong raised the price target on Apple (NASDAQ: AAPL) to $230.00 (from $210.00) while maintaining a Hold rating.

• F4Q19E preview: raising estimates, but view strength as priced in
• LT FY20/FY21 EPS estimates now ~4-5% above the Street as we see iPhone unit demand better than present Street expectations
• However, with the stock rising +13% intra-quarter, we view EPS upside driven by iPhones as largely priced in.