Credit Suisse increases it price target from $700 to $750 on Outperform-rated Apple AAPL on raised estimated due to higher iPhone volumes.
Credit Suisse notes, "Raising estimates, PT to $750. Driven by higher iPhone volumes, we raise our EPS estimates for CY12/CY13 by 5%/10% to $50.14/$60.72. …Fundamentally, with an ability to execute and innovate across the compute market, Apple will see robust bottom-line growth of 43%/21% in CY12/CY13, making the current valuation compelling."
AAPL closed at $626.11 on Wednesday.
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