First Albany raised Apple’s stock price target to US$60 from $53, reports MarketWatch. The increase is due to the belief that iPod nano’s success will provide upside momentum heading into the fourth quarter. “Despite the stock’s run and the inevitability that Apple’s growth rate will eventually slow, we think renewed iPod demand/leverage and continued central processing unit share gains should enable sustained stock momentum through the end of the year,” said Analyst Joel Wagonfeld.
