|[Updated 8:55 AM] Wall Street Analysts Bullish On Apple
CNBC is reporting that DLJ, or Donaldson, Lufkin & Jenrette, as well as a "number of other firms" has raised Apple's stock target price. DLJ has raised their target to US$140 from US$90. JP Morgan has raised their target to US$115. The analysts seem to be pleased with Apple's general performance and are looking for a blowout quarter for the company. From Bloomberg:
Apple Computer Inc. (AAPL US) was reiterated ''top pick'' by analyst Kevin A. McCarthy at Donaldson Lufkin & Jenrette Securities. The 12-month target price is $140.00 per share.
Apple is trading up between 3 and 4 points at the opening of the Nasdaq this morning.
The Mac Observer Spin: A "Top Pick" rating is mighty fine. Kevin McCarthy has long recognized Apple's potential when other analysts were stuck in the past when it came to Apple's future. Mr. McCarthy has been well ahead of the curve by often being the first to raise his estimates of the company.
Apple should trade well today and could close above US$100 for the first time ever. Though DLJ and JP Morgan are have somewhat of a spread for their target prices, both prices are quite respectable. In particular, the US$140 target from DLJ should really get traders going.
Donaldson, Lufkin & Jenrette,