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Lehman raises Apple price target, Q4 forecasts

CBS Marketwatch today is reporting that Lehman Bros. has raised it stock price target for Apple to US$64 from $46. In addition, the firm increased its fourth-quarter earnings and revenue forecasts, citing expectations that busy retail traffic and strong demand for iPods will continue through the holiday season. “Analyst Harry Blount lifted his earnings estimate to 45 cents a share from 41 cents and his revenue forecast to $3.1 billion from $2.9 billion. He reiterated his ‘equal weight’ rating, however, on the belief that the stock already reflects strong results,” notes the report.

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