“Shares of Apple Inc. rose in premarket trading Monday, after a Lehman Brothers analyst raised his price target in anticipation of strong fiscal fourth-quarter results,” The Associated Press reports.
“Lehman’s Harry E. Blount said he expected Apple’s stock to benefit from strong quarterly results next week, in addition to the release of the Leopard operating system and updated product lines,” AP reports.
“Blount raised his price target by $30 to $190, implying upside of nearly 14 percent to Friday’s $167.25 closing price, and raised his profit and sales estimates for Apple’s fiscal fourth quarter,” AP reports.
“The upcoming release of Leopard should boost sales in Apple’s December quarter and give Apple more market share in desktops, Blount said,” AP reports.
“Apple reports quarterly results on Oct. 22. Analysts polled by Thomson Financial expect earnings of 84 cents and sales of $6.05 billion,” AP reports.
Full article here.
[Thanks to MacDailyNews Reader “Mike in Helsinki” for the heads up.]