UPDATE: FBN Securities Raises Apple's PT

According to a research report published this morning, FBN Securities has increased Apple's

PT from $760 to $800. FBN Securities commented in the report, "We retain our Outperform rating on AAPL and increase our PT from $760 to $800. AAPL had another blowout quarter, with revenue and EPS way above expectations. Although the beat was less when adjusted for changes in iPhone channel inventory, AAPL is still executing very well. AAPL's shares have been weak over the past few weeks due to a variety of concerns (e.g. slower MAC sales, concerns over subsidy cutbacks [AAPL clarified that this is likely only on new subs], and declining carrier activations), but we believe that the share weakness provides an attractive entry point for our #1-ranked equity in the FBN Technology Focus List." Apple closed yesterday at $560.28.