Citigroup, Barclays Boost Price Targets On Apple Following Upbeat Earnings, But These Analysts Disagree

Apple Inc AAPL reported better-than-expected results for its fiscal year third-quarter, helped by strong iPhone and iPad sales. iPhone revenue of $40.67 billion came in better than analysts’ estimates of $39.2 billion.

Apple shares rose 2.8% to $161.67 in the pre-market trading session.

Several analysts made changes to their price targets on Apple following the release of results.

Below are the analysts raising price targets on Apple.

• Citigroup raised price target on Apple from $175 to $185. However, Citigroup analyst Jim Suva maintained Apple with a Buy.
• Barclays lifted boosted Apple’s price target from $166 to $169. However, Barclays analyst Tim Long maintained the stock with an Equal-Weight rating.

However, these analysts reduced price targets on Apple.

• Raymond James lowered price target on the stock from $190 to $185. However, Raymond James analyst Melissa Fairbanks maintained Apple with an Outperform.
• Rosenblatt lowered Apple price target from $168 to $160. However, Rosenblatt analyst Barton Crockett maintained the stock with a Neutral rating.