Apple Inc.’s (NASDAQ:AAPL) stock market target price has been raised to $142 by RBC Capital.
RBC Capital analyst Amit Daryanani previously had a stock target price of $140 for Apple. As of Monday’s closing, AAPL shares were valued at $126.37, reports MarketWatch.
Daryanani raised his stock target price for Apple because he believes it could outperform expectations due to strong interest in the iPhone. He also upped his expectations for the company’s current quarter. His revenue estimate for the company is $55.4 billion and he expects earnings per share of $2.14, MarketWatch notes.
Daryanani also listed yield efficiency, supply chain pricing, Apple Watch ramps and more as reasons why he was increasing its AAPL stock target price, reports TheStreet.com.
AAPL shares were down slightly as of Tuesday morning.
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