A report on TheStreet.com today notes that Prudential has raised its quarterly profit estimates for Apple. “The firm is now looking for earnings of 68 cents a share in the March quarter, 4 cents better than its old prediction and 7 cents ahead of Wall Street’s consensus target,” notes the story.
Read MorePrudential lowered its investment rating on Apple’s stock, citing valuation. The Investment firm “cut Apple to neutral from outperform, saying the shares, which have more than doubled over the past 12 months, are priced for perfection,” notes The Street.com. “Still, the brokerage played catch-up with its price target, raising it to (US)$67 from $55, a level they crossed early last month.”
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