Deutsche Bank upped their price objective on shares of Apple (NASDAQ:AAPL) to $70.00 in a research note issued on Monday, Analyst Ratings Network reports. The firm currently has a “positive” rating on the stock. Deutsche Bank’s target price suggests a potential downside of 86.06% from the stock’s previous close.

Apple (NASDAQ:AAPL) traded up 2.15% on Monday, hitting $513.13. 7,763,797 shares of the company’s stock traded hands. Apple has a 1-year low of $385.10 and a 1-year high of $705.07. The stock’s 50-day moving average is $443.6 and its 200-day moving average is $439.8. The company has a market cap of $466.2 billion and a P/E ratio of 12.53. Apple also saw some unusual options trading activity on Friday. Stock investors bought 266,339 call options on the stock. This is an increase of approximately 799% compared to the typical volume of 29,620 call options.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $7.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $7.28 by $0.19. The company had revenue of $35.32 billion for the quarter, compared to the consensus estimate of $35.01 billion. During the same quarter in the prior year, the company posted $9.32 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Analysts expect that Apple will post $39.09 EPS for the current fiscal year.

AAPL has been the subject of a number of other recent research reports. Analysts at RBC Capital reiterated an “outperform” rating on shares of Apple in a research note to investors on Thursday. They now have a $525.00 price target on the stock. Separately, analysts at ABG Sundal Collier reiterated a “hold” rating on shares of Apple in a research note to investors on Wednesday, August 14th. Finally, analysts at ISI Group reiterated a “strong-buy” rating on shares of Apple in a research note to investors on Tuesday, August 13th.

One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, forty-three have given a buy rating and three have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $527.92.

In other Apple news, SVP Daniel J. Riccio sold 4,305 shares of the company’s stock on the open market in a transaction dated Friday, August 16th. The stock was sold at an average price of $500.09, for a total transaction of $2,152,887.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Apple Inc (NASDAQ:AAPL) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications.