Nomura Raises Apple Price Target

Nomura Securities kept its Neutral rating on Apple (NASDAQ: AAPL), but did raise the price target from $95 to $104.

In a note out Monday morning, Nomura analyst Stuart Jeffrey touched on valuation and EPS growth, saying that shares of Apple, although not expensive, are trading toward the upper end of their recent valuation range. He also hinted that the upside in EPS beyond $7.43 per share will be challenging.

Nomura did raise their estimates slightly, with 2014 going from $6.25 to $6.29 and 2015 from $6.46 to $6.95 per share.

Shares of Apple were last trading higher by about one percent.