October 23, 2007 / 3:57 AM / in 10 years

CORRECTED - CORRECTED-UPDATE 1-RESEARCH ALERT-RBC raises Apple price target

(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)

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below