First Albany raises AAPL target, discounts HP fallout

Analysts at First Albany have reiterated their "buy" rating on Apple stock, raising the target price from $44 to $48, according to NewRatings.com: "In a research note published this morning, the analysts mention that the recent decline in the company's share price due to iPod-related concerns, which arose when HP decided to stop reselling the iPods under its own brand, are unwarranted. According to the analysts, Apple has significantly increased its own distribution points and revenues from HP, which constituted only a small part of the company's total revenues, the analysts say. The sluggish outlook provided by Synaptics reflects Apple Computer's decision to exclude the former's products from the next generation iPods."

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