“BMO Capital Markets raised its share price target on Apple Inc. saying it expects product momentum on iPads, new iPhones and new iPods to move the company’s stock higher,” Isheeta Sanghi reports for Reuters. “The brokerage raised its estimates ahead of Apple’s Worldwide Developers Conference, where the company is expected to announce the next generation iPhone.”
“BMO raised its price target on the stock to $310 from $300 and kept its ‘outperform’ rating,” Sanghi reports. “The brokerage also raised its 2011 iPad estimates to 17 million units from 9.5 million units.”
MacDailyNews Take: Again, still too low.
Bachman said, “The software for tablets and e-readers will be very important for the user experience, and we believe Apple’s operating system has several key advantages, including its user friendliness and familiarity with among several Apple products — iPhone, iPod touch, and iPad,'” Sanghi reports.
Sanghi reports, “To reflect some amount of iPod cannibalization from the iPad given its multi-function capabilities, the analyst lowered iPod estimates by about 4 million units to 44.2 million units in 2011. The brokerage raised its iPhone sales estimates for 2011 marginally to 45.3 million from 44.9 mln.”
Full article here.
[Thanks to MacDailyNews Reader “Joe Architect” for the heads up.]