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After Apple’s highly anticipated iPhone launch event, Wall Street analysts provided their outlooks on the company. Out of seven tracked by Wccftech, five raised Apple’s share price target while two left it unchanged. However, no analyst upgraded the stock rating, indicating a cautious sentiment.
### Bank of America, Evercore & Melius Raise Price Targets
– **BofA**: Its analyst increased Apple’s share price target from $260 to $270, maintaining a Buy rating. He suggested that new launches could help position Apple as a leader in delivering AI at the edge.
– **Evercore**: Amit Daryanani raised the target from $250 to $260 and rated the stock Outperform. He highlighted the “notable form factor change” across the iPhone lineup, which he believes will drive an upgrade cycle for certain iOS users.
– **Melius**: Barton Reitzes increased Apple’s share price target by $30 to $290 and kept a Buy rating. The higher target reflects greater confidence in Services and lower tariff risk.
### Other Analysts’ Views
– **Redburn** (James Cordwell): Affirmed his view that the iPhone 17 launch validates Apple’s return to being a hardware-led company, with stronger product pipelines.
– **Rothschild Redburn**: Increased its target to $260 from $230 due to revenue growth and EPS estimates but maintained a Neutral rating.
– **UBS** (David Vogt): Noted that while the list price increased for some models, Apple eliminated the 128GB base configuration. This decision means iPhone pricing was effectively unchanged compared to last year.
– **HSBC**: Maintained a $220 target and Hold rating, noting that leaks didn’t affect its positive impression of hardware innovation.
Apple’s stock closed 1.5% lower after the event but remained flat in premarket trading.
