Analyst ups target on Apple Stock to $210, anticipates low cost MacBook sometime soon

Wed, Sep 30, 2009

Finance, News

Analyst Doug Reid of Thomas Weisel recently upped his price target for Apple stock to $210, up $30 from his previous target of $180.  And with Apple already trading at $185, you might say that his previous stock target was quite outdated.

Moving along, Apple’s fiscal quarter ends this month, and Reid anticipates revenue of $35.79 billion and EPS of $5.83 a share for the fiscal year gone by.  Looking forward to 2010, Reid anticipates revenue of $42.37 billion and EPS of $6.92, whcih if true, would represent an estimated 18% increase in earnings year to year.

In the short term, Reid notes that he expects Apple to release a low cost Macbook sometime soon, and definitely before the holiday shopping season begins.

We instead focus on the prospects for Apple to launch lower price point ($800-900) MacBooks within the next 30-45 days. We believe there is a high likelihood Apple will fortify its entry into the holiday season and that such a move will be a positive for AAPL shares.

via Barrons


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