First Albany have reiterated their “buy” rating on Apple and increased the company’s target price from uS$44 to $48, notes Newratings.com. The analysts said that the “recent decline in the company’s share price due to iPod-related concerns, which arose when HP decided to stop reselling the iPods under its own brand, are unwarranted.”
Read MoreMarketWatch today is reporting that First Albany has “raised its earnings and sales forecasts for Apple Computer as higher sales from its new Tiger operating system and increased assumptions for iPod are expected to offset lower sales of its Mac-Mini PCs.” Joel Wagonfeld, an analyst with the company, lifted his fiscal third-quarter earnings estimate to US$0.34 a share from $0.29 cents and his revenue forecast to $3.4 billion from $3.3 billion.
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