“Apple (AAPL) shares are on the rise this morning, lifted by bullish comments from Bernstein Research analyst Toni Sacconaghi,” Eric Savitz reports for Barron’s.
MacDailyNews Take: Eric sure loves to report whatever nutball Toni babbles.
Savitz reports, “While Sacconaghi maintains a Market Perform rating on the stock, this morning he raised his price target on the shares to $175 from $165.”
“He also upped his EPS estimate for the September 2008 fiscal year to $5.27 from $5.17; for FY ‘09 he goes to $6.52 from $6.26,” Savitz reports. “(The Street consensus is $5.20 for this year and $6.36 for next year.) Sacconaghi now expects Apple to sell 8.5 million iPhones for the rest of the calendar year, bringing his forecasted total for all of 2008 to 11 million units; he expects 19.5 million units to be sold in calendar ‘09.”
Full article here.
Nice price target. For 2007. At least Toni’s finally figured out that Apple will easily meet and exceed its stated goal of 10 million iPhone units sold in 2008.