Analysts scramble to raise their price targets after Tuesday’s record Q2 earnings report
Hindsight is a wonderful thing, and after failing to predict Apple’s (AAPL) performance in the quarter than ended March 27, all of Wall Street seemed to be looking at the company with new and more appreciative eyes.
More than two dozen analysts raised their price targets for Apple overnight, from as low as $240 to as high as $350.
The prize for the biggest jump goes to Macquarie’s Phil Cusick, who went from $250 to $325, a 30% change of heart.
Below: Our full list. We’ll add more as they come in.
|Chris Whitmore, Deutsche Bank||$350||$325||7.7%|
|Mike Abramsky, RBC Capital||$350||$275||27.3%|
|Vincent Rech, Societe Generale||$350||$280||25.0%|
|Andy Hargreaves, Pacific Crest||$330||$300||10.0%|
|Piter Misek, Canaccord Adams||$325||$300||8.3%|
|Phil Cusick, Macquarie||$325||$250||30.0%|
|Gene Munster, Piper Jaffray||$323||$299||8.0%|
|Brian Marshall, Broadpoint Amtech||$320||$280||14.3%|
|Richard Gardner, Citigroup||$320||$300||6.7%|
|Doug Reid, Thomas Weisel||$320||$300||6.7%|
|Yair Reiner, Oppenheimer||$320||$285||12.3%|
|Mark Moskowitz, J.P. Morgan||$316||$305||3.6%|
|Ben Reitzes, Barclays Capital||$315||$300||5.0%|
|Shaw Wu, Kaufman Bros.||$315||$305||3.3%|
|Bill Shope, Credit Suisse||$315||$300||5.0%|
|Robert Cihra, Caris & Co.||$310||$300||3.3%|
|Scott Craig, Merrill Lynch||$300||$260||15.4%|
|Jeff Fidicaro, Susquehanna Financial||$300||$275||9.1%|
|Toni Sacconaghi, Sanford Bernstein||$300||$275||9.1%|
|Clyde Motevirgen, Standard & Poor||$295||$270||9.3%|
|Keith Bachman, BMO Capital||$290||$265||9.4%|
|Samuel Wilson, JMP Securities||$290||$260||11.5%|
|Katy Huberty, Morgan Stanley||$275||$250||10.0%|
|David Bailey, Goldman Sachs||$270||$240||12.5%|
. . . .
Clients who actually pay these analysts for investment advice would probably appreciate getting the benefit of all this before — rather than after — Apple’s earnings reports. That way, they might have participated in the rally that sent Apple shares soaring over $260 Wednesday.
The stock closed at an all-time high of $259.22, up 14.63 points (5.98%) for the day.
For an up-to-date listing of analyst price targets, check out AAPLinvestors.net.
[Follow Philip Elmer-DeWitt on Twitter @philiped]