Apple analysts scramble to catch upOctober 3, 2009: 2:08 PM ET
Two weeks ago, after Apple (AAPL) hit a 15-month high, we reviewed the price targets set by the major analysts and suggested that it might be time for some of them to take another look at the company.
With Apple's shares trading for nearly $185, we singled out for special attention several analysts who were recommending the stock to clients, but whose targets had fallen 10% to 23% behind the stock's actual price:
- Think Equity's Vijay Rakesh ($150)
- FTN Equity's Bill Fearnley ($155)
J. P. Morgan's Mark Moskowitz ($167.50)
[In an earlier version of this post, Merrill Lynch's Scott Craig and Thomas Weisel's Doug Reid were on this list. That was my error.]
Since then, we're happy to report, two of the three have issued new price targets for Apple. It's part of a general reassessment that is likely to accelerate in the weeks ahead as analysts scramble to catch up to the stock's performance before the company issues its earnings report for the fiscal year that ended Sept. 26.
Below the fold: The old and new price targets of the 10 analysts who raised their targets since our Sept. 17 post, the targets of more than a dozen analysts who were ahead of the game, and a half dozen who have some catching up to do.
Still behind the curve: