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Lehman ups Apple price target

Lehman Bros. analyst Harry Blount raised his stock price target for Apple to US$94 from $73 and raised his 2005 earnings and revenue estimates due to evidence that sales of the company’s iPod Shuffle and Mac remain strong, reports CBS Marketwatch. “He reiterated his ‘equal weight’ rating on the stock, however, on the belief that most of the good news is already discounted into the price. The stock closed Friday at a split adjusted $44.49, and has gained 130 percent since the end of September (the stock is scheduled to begin trading on a split adjusted basis on Monday).”

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