Credit Suisse analyst Bill Shope this morning repeated his Outperform rating on Apple (AAPL), lifting his price target on the shares to $300, from $275.
“As we approach the end of Apple’s March quarter, we believe it is now clear that the company is running well ahead of our previous expectations and consensus,” he writes. “While upside is often the norm for Apple, we are still surprised by the current strength, as we believe Apple is now running well ahead of expectations in all of its key business segments during what is typically a seasonally “sloppy” quarter.”
Shope lifted his March quarter forecast to revenue of $12.26 billion and EPS of $2.57, up from $11.45 billion and $2.27.
His conclusion: “investors should be building on positions at current levels.”
AAPL is up $4.37, or 1.9%, to $230.99.
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