updated 11:00 pm EST, Fri February 25, 2005
BofA raises AAPL target
Banc of America Securities today reiterated his "buy" rating on Apple and from $85 to $97. NewRatings.com reports that the firm has raised FY05 sales estimate for iPod shuffle product has been raised from 4.4 million to 5 million units, confirming its optimism regarding Shuffle sales in the global market. "The demand for Apple Computer's Mac Mini continues to be robust and the sales estimate for the product has been raised from 305,000 to 900,000 units, the analyst says. The EPS estimates for FY05 and FY06 have been raised from $1.87 to $2.11 and from $2.16 to $2.50, respectively."