Apple Price Target Raised to $550 at Ticonderoga
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Apple Inc. had its price target raised to $550 at Ticonderoga Securities LLC after reporting profit and sales that exceeded analysts’ estimates, even as Chief Executive Officer Steve Jobs takes a leave of absence.
The price target by Ticonderoga’s Brian White is the highest among analysts surveyed by Bloomberg and 62 percent more than today’s closing price. The target is 14 percent more than the next highest projection, $483 from Piper Jaffray Cos.