Tag: bearsterns

Bear Stearns on Monday raised its share price target on Apple to US$72 from $60. The firm said there is an upside potential from the expected introduction of a flash memory-based iPod. Earlier today, J.P. Morgan raised its revenue and earnings per share estimates for Apple, citing expectations for strong holiday sales.

Bear Stearns downgraded Apple’s rating today, saying the stock has already reached the year-end price target set by the firm’s analysts. Apple’s rating went to “peer perform” from “outperform,” Bear Stearns said. With Apple’s shares hitting the firm’s year-end target of US$36.50, there is a “lack of compelling upside” headed toward next year, Bear Stearns wrote in a note to clients.