“Goldman Sachs’ David Bailey added [Apple (AAPL)] stock today to the firm’s ‘Americas Conviction Buy List,’ and upped his price target to $220 from $185,” Eric Savitz blogs for Barron’s.
“Bailey said the move is intended to ‘capture the catalyst around the 3G iPhone launch next month and the upside potential from sharply higher projected iPhone sales in the back half of the year,'” Savitz reports.
“Bailey says he continues to see calendar 2008 iPhone unit sales at 11 million, ahead of the company’s 10 million unit target. He also expects continued stellar Mac growth, with units expanding at 3x the overall PC market,” Savitz reports.
Full article here.