First Albany has raised its earnings and revenue forecasts due to higher-than-expected iPod music player sales.
Analyst Joel Wagonfeld lifted his fiscal second-quarter earnings estimate to 25 cents a share from 23 cents and his revenue forecast to $3.5 billion from $3.3 billion. Wagonfeld also raised his iPod unit sales estimate to 5.5 million from 4.5 million and his iPod revenue estimate to $1.3 billion from $1.06 billion.
Wagonfeld reiterated his buy rating on the stock and $49 price target.
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