Over the weekend we showed how many analysts had made calls on the stock in the last few trading days around the WWDC and around the upcoming split. Here we have updated what those price targets are now. We have taken the comments out of most of these calls to keep the description shorter.
Barron’s featured an article referring to analyst Brian White of Cantor Fitzgerald. His note was that a souped up smartwatch from Apple could generate an extra $4 in earnings per share — the new reflection is an additional $0.57 in earnings per share after the split.
On June 5, Apple was reiterated as Outperform and the price target was raised to $685 from $610 at BMO Capital Markets using the old price. The new target is $97.85.
Apple shares were reiterated with a Buy rating and the price target was raised to $710 from $660 by Canaccord Genuity. The new target is $101.42.
Credit Suisse maintained what might be considered a cautious Neutral rating after the WWDC event, but the firm raised its price target to $600 from $560. The new target is $85.71.
Dan Niles, the former top Apple analyst who became a tech portfolio manager, said on a CNBC appearance last week that the WWDC event actually had nothing of any real meat for investors.
Piper Jaffray’s Gene Munster, who is now considered one of the top analysts for Apple, also appeared on CNBC late last Monday. He did talk up Apple’s prospects. Munster has a Buy rating and a $730 price target. The new target is $104.28.
Goldman Sachs also raised its price target for Apple to $720 from $635 right at the end of May. The new target is $102.85.
Argus recently maintained its Buy rating but raised its price target on Apple to $700 from $610. The new target is $100.00 even.
Wells Fargo had also recently maintained its Market Perform rating, but the firm did lift its implied price target range to $595 to $640. The new target range is $85 to $91.43.
Keep in mind that in the coming days you will see many analysts adjust their price targets to reflect whole dollars as most analyst calls do not have target prices such as $85.71 or $104.28.