Apple's Price Target Raised to $182 by UBS
By: Reuters
UBS raised its price target on Apple to $182 from $175 and said many more new products could be introduced between now and March 2008.
There was robust demand for Macintoshes and a pick up in demand for iPods and iPhones following the 33% price cut announced on Sept. 5, the brokerage said in a research note.
UBS raised its earnings estimate for the company's fourth quarter to 81 cents a share from 79 cents and for fiscal 2008 to $4.47 from $4.35 a share.
UBS, which has a "buy" rating on the company, also said it expects the company to earn $5.30 a share for fiscal 2009.
The brokerage raised its estimates due to a mix shift toward the iPod Touch and prospects for higher payments from partner AT&T.
UBS raised its price target on Apple to $182 from $175 and said many more new products could be introduced between now and March 2008.