Friday, October 2, 2009
Posted by Jeff Campbell in "Apple News" @ 09:00 AM
"Another analyst has raised his price target for shares in Apple Inc. to US$210 per share, joining Thomas Weisel analyst Doug Reid who did the same thing on September 28th. Oppenheimer analyst Yair Reiner said in a research note that investors underestimate Apple's ability to generate profits from the iPhone, and moved his price target on the company's stock from $180 per share to $210."
As of about 5 minutes ago, Apple stock was at $184.56 USD, up a little over $3.00 USD today. This target price increase is based partly on a story we talked about previously, where accounting changes were going to be a benefit to Apple and others that are being allowed to change how they account for subscription based sales. We shall see.