Tag: firstalbany

First Albany has raised its earning estimate and stock price target for Apple, reports CBS Marketwatch. The firm cited higher expectations for iPod products, iMacs, retail stores and iTunes. Analyst Joel Wagonfeld, who reiterated his “buy” rating, increased his fiscal 2005 earnings estimate to US$1.35 a share from $1.17 and revenue forecast to $10.8 billion from $10.2 billion. In addition, the analyst lifted his stock price target to $61 from $53.

First Albany has raised its price target on Apple shares to US$44 from $35, due to the belief that fiscal fourth-quarter earnings iPod unit sales will exceed current estimates. “We think investors are expecting continued upside, and we believe Apple has room to continue to exceed expectations based on multiple growth drivers,” Analyst Joel Wagonfeld said in a note to clients today. Read More