Financial advice group Rothschild & Co Redburn has raised its Apple price target by a huge $140, specifically because it believes that an iPhone Ultra is a “match made in heaven” for the company.
Analysts believe Apple will do well in the Q3 results.
Analysts believe Apple will do well in the Q3 results.
Rothschild & Co Redburn doesn’t seem to concentrate much on Apple, and its usual price targets tend to lag behind firms that do, such as Morgan Stanley. But while Morgan Stanley recently dropped its price target by $4 to $360, Rothschild has dramatically increased its from $260 to $400.
Unsurprisingly, it’s also raised its status from Neutral to Buy. This may not be the end of the rising price target, either, as the company’s Timm Schulze-Melander has told CNBC.