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Apple Targets Lifted Higher on the Street

Stocks in this article: AAPL

NEW YORK, ( TheStreet) -- Apple's (AAPL) blowout performance earned a new round of raised stock appraisals from Wall Street Wednesday.

Shrugging off the potentially permanent departure of CEO Steve Jobs Monday, most analysts focused instead on the rapidly expanding Mac, iPhone and iPad sales and pronounced Apple an "unrivaled growth story."

In response to the company's beat-by-a-buck fiscal first-quarter profits and its above-consensus guidance for the second quarter, several analysts took their stock price targets up a few ticks.

Here's a sample of the favorable Apple reviews.

  • JPMorgan's Mark Moskowitz bumped up his 2011 price target to $450 from $420, explaining in his research note Wednesday that "we expect Apple's growth profile to be unrivaled in large cap tech."
  • UBS's Maynard Um cited what he expects will be a massive sales debut of the CDMA iPhone at Verizon and Asia raised his Apple price target to $465 from $415.
  • RBC's Mike Abramsky was jazzed about the impending growth catalysts for Apple including the Verizon iPhone, the iPhone 5 and the iPad 2 this year, boosting his stock price target to $425 from $395.
  • Apple shares, which fell 4.6% in early trading Tuesday in reaction to the departure of an ailing Steve Jobs, recovered slightly finishing the regular trading session down 2% at $340.65. But in the after-hours Tuesday, the stock soared to an all-time high of $352 as investors cheered the big earnings beat.

    Apple shares were up $8.35, or 2.4%, to $349 in pre-market trading Wednesday.

    --Written by Scott Moritz in New York.

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