BancBoston Robertson Stephens analyst Alex Mou raised his rating on personal computer maker Apple Computer Inc. Thursday to buy from long-term attractive.
"We believe Apple is well positioned for the September quarter, with a strong product lineup following a solid June quarter," he said in a report.
"We expect that the software portfolio will provide upside to earnings and margins with the release of Sonata in the fall and Mac OS X (server software) early next year. We are raising our (earnings-per-share) estimates from $2.75 to $2.80 and from $2.86 to $3 for fiscal 1999 and fiscal 2000, respectively.''
He set a 12-month price target of $75.
As of 2:08 PM CDT, Apple was trading at 54 5/8, an increase of 4 3/4 or 9.52%.