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.