Apple price target raised to $230 from $220 at Redburn Atlantic

Redburn Atlantic raised the firm’s price target on Apple (AAPL) to $230 from $220 and keeps a Neutral rating on the shares post the fiscal Q1 report. Despite challenges in China during the quarter, the company once again delivered revenue broadly in line with consensus, the analyst tells investors in a research note. The firm says Apple “continues to earn its reputation as a next generation consumer staple.” However, it also appears a much less predictable world, which can only be negative for Apple’s multiple, adds Redburn.