First Albany raises estimates, maintains ‘buy’ rating for Apple Computer

Analysts at First Albany have reiterated their “buy” rating on Apple Computer (AAPL) and raised their estimates for the company. The target price is set to $49.

In a research note published this morning, the analysts note that the company has reported its 2Q 05 Earnings Per Share (EPS) significantly ahead of the consensus estimate, driven by better-than-expected gross margins and operating leverage. Apple Computer has issued flat EPS and revenue guidance sequentially for the June quarter due to seasonality. ,

First Albany’s EPS estimates for FY2005 have been raised from $1.09 to $1.29 and from $1.30 to $1.50 for and FY2006.

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