UBS analyst Ben Reitzes on Monday raised his price target on Apple Inc.’s stock to $235 a share from $200. In a research note, Reitzes said that checks of retail stores show Mac demand outpacing supplies during the Christmas shopping season.
Reitzes also raised his per share estimates for the fiscal first quarter ending December to $1.56, up from $1.47, on revenue of $9.42 billion. He expects 2.1 million iPhones in the quarter and 2.24 million Macs, up from his previous target of 2.14 million. Reitzes also raised his FY 2008 estimate to $5.05, up from $4.73. For 2009, Reitzes expects $6.24, up from $5.66.
The analyst expects Apple to debut several new products, including a new ultra-thin, ultra-light portable Mac at MacWorld Conference and Expo on January 15.
[Thanks to MacDailyNews Reader “I ♥ MDN” for the heads up.]