May 06, 2013 at 10:41 AM EDT
Barclays Raises Price Target on Apple (AAPL)

After numerous price target cuts over the past four months, analysts at Barclays are now reversing course. The analysts raised the price target on tech giant Apple Inc. (AAPL) on Monday.

The analysts maintain an “Overweight” rating on AAPL and now see shares reaching $525, up from the previous target of $465. The new price target suggests a 17% upside to Friday’s closing price of $449.98.

Barclays analyst Ben Reitzes believes that Apple can hit $500 in no time.

“Even with the recent rally, we believe that shares are underappreciated and we detect a high amount of investor apathy still for the name – with many investors believing that the new product cycle will not matter,” said Reitzes.

Furthermore, Reitzes believes the company has the ability to wow investors with its product launches later in the year.

Apple shares were up $9.56, or +2.08%, during morning trading on Monday. The stock is down -13.58% year-to-date.

The Bottom Line
Shares of Apple (AAPL) have a dividend yield of 2.65% based on Monday’s intraday trading price of $459.54 and the company’s annualized dividend payout of $12.20.

Apple Inc. (AAPL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here