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On Tuesday, analysts at Stifel raised the price target on shares of Apple Inc.
AAPL from $115 to $130 and maintained the Buy rating.
Aaron Rakers is updating the firm's estimates to include the impact of Apple Watch. Rakes expects an upward bias ahead of the Apple Watch launch.
“A Lot of Unknowns, but Expecting Upward Bias Ahead of Late-C1Q15 Launch. While sizing the Apple Watch opportunity will remain a topic of much debate, we believe some investors will gauge this new category momentum relative to iPad adoption in 2010-2011.”
“We model $13.1B of incremental Watch revenue in C2016 with 27.8M units shipped in C2016. Apple will include its Watch results in the Other Products category. With an initial 40% Apple Watch GM% estimate, and maintained iPhone, iPad, and other estimates, we increase our F2015 and F2016 revenue and EPS estimates from $213.3B/$7.69 and $242.2B/$8.88 to $218.9B/$7.85 and $253.3B/$9.22, respectively.”
Shares of Apple Inc. recently traded at $119.20 up 0.5 percent Tuesday morning .
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