Analysts have issued stock upgrades on Apple following its news of a record setting third quarter.

Analysts at RBC Capital Markets, Deutsche Band, Bear Sterns, Citigroup and Amer Technology all raised price targets on the company's shares.

Citigroup analyst Richard Gardner raised his target price on the stock by $50 to $160 per share, with a 'hold' rating. He's advising clients to buy the stock if it falls in price.

At RBC Capital Markets analyst Mike Abramsky added $15 to his target figure, raising it to $175. Goldman Sachs last week raised Apple their Apple target price to $165.

Analysts at Deutsche Bank raised target to $140 from $130; at Bear Sterns the target was increased to $143 from $130.

These analysts join a chorus on Wall Street who believe Apple has space to develop its market in the coming months, with positive effects on its share price.