UPDATE: Credit Suisse Raises PT to $750 on Apple

Credit Suisse increases it price target from $700 to $750 on Outperform-rated Apple (NASDAQ: AAPL) on raised estimated due to higher iPhone volumes.

Credit Suisse notes, "Raising estimates, PT to $750. Driven by higher iPhone volumes, we raise our EPS estimates for CY12/CY13 by 5%/10% to $50.14/$60.72. …Fundamentally, with an ability to execute and innovate across the compute market, Apple will see robust bottom-line growth of 43%/21% in CY12/CY13, making the current valuation compelling."

AAPL closed at $626.11 on Wednesday.