(Corrects 2nd paragraph to say that the Wall Street estimate for the company’s Q4 revenue was $6 billion, not $5.7 billion) (Changes source, adds details, share movement)
Oct 19 (Reuters) - RBC Capital Markets raised its price target on Apple Inc (AAPL.O) to $205 from $175, and said it expects a stronger back-to-school season for the company’s Macintosh computers.
The brokerage, which reiterated its “outperform” rating on the stock, said it expects Apple to report fourth-quarter revenue at $6.4 billion, above Wall Street estimates of $6 billion.
RBC raised its earnings-per-share estimate to $4.79 from its prior view of $4.42 for fiscal 2008 and to $6.00 from $5.62 for fiscal 2009.
Shares of the company were trading up 57 cents at $174.06 in early electronic trade, after closing at $173.50 Thursday on the Nasdaq. (Reporting by Manish Gupta in Bangalore)