Credit Suisse increases Apple 2Q EPS, ups price target

Thu, Apr 9, 2009

Finance, News

Despite a flailing economy, Credit Suisse upped its projected 2Q EPS for Apple in addition to raising its price target for the stock up to $133. Credit Suisse now projects Apple to earn $1.09 a share on revenue of $7.76 billion. Previously, Credit Suisse projected EPS of $0.97 on revenue of $7.44 billion. For the year, Credit Suisse now estimates earnings of $5.11 per share, with revenue coming in at $34.54 billion.

Despite, the uptick in anticipated earnings for the second quarter, Credit Suisse’s projections still fall below the general Wall Street consensus, which pegs Apple at having earnings per share of $1.11 on revenue of $8.31 billion.

Earlier in the week, Barclays Capital increased their own price target for Apple Stock to $143 a share, up from a previous target of $113. Meanwhile, Mike Abramsky of RBC has a $70 price target for Apple.

Related: Why RBC analyst Mike Ambramsky’s bearish position is hard to take seriously – It’s time to put him in check



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