Analysts continue to upgrade their rating on Apple stock, following a better-than-expected performance in the company's third quarter.

Analysts across the board last night reiterated their "buy" rating on the stock and raised stock target prices.

Goldman Sachs analyst David Bailey said: “iPhone hype notwithstanding, with the heart of Apple’s product cycle about to begin, we want to stay with the stock.” This analyst expects new iMacs and iPods this autumn and holds a $165 target price on the stock.

"Apple's ability to develop, launch, and support new products, using the same R&D and sales and marketing investments, creates [earnings] leverage that is substantially greater than people thought even six or twelve months ago," said Bailey.

UBS raised the target price on Apple shares to $175 from $160. They noted the company exceeded estimates for earnings and delivered better than expected revenues and profit margins.

The analysts say they are optimistic at the company's long-term margin expansion potential and expect software, Macs and iPhones to be the catalyst for future sales.

Meanwhile at Credit Suisse, analysts rate Apple as an "outperform". They raised target prices a hefty $45, from $140 to $185 per share. Once again, the analysts pointed to Apple's powerful Q3 performance numbers.

Analysts at Caris & Company rate Apple as "above average" and increased target price from $140 to $165. JMP Securities (who rate Apple a "market outperform" raised their target price $35 to $160.

The news is the same at RBC Capital Markets, who increased their Apple target price per share from $160 to $175.

Pacific Crest analyst Andy Hargreaves increased his Apple stock target price to $175 from $130, and noted that Apple's success in the consumer markets is slowly translating into enterprise sales.