Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Markets & Finance

Merrill Raises Apple Target Price


Merrill Lynch raised its target price for Apple Computer (AAPL) to $102 from $85, and reiterated its buy rating on the stock.

Analyst Steven Milunovich says Apple's new target is supported by a two-stage discounted earnings per share model that assumes post-fiscal 2006 (ending September) earnings per share growth of 33% for 5 years followed by sustained earnings per share growth of 5% per year.

The company adds should be increasing real option value embedded in the stock as the company leverages iPod success into new product lines. He found it intriguing Sony President Kunitake Ando was on stage at MacWorld with Apple CEO Steve Jobs.

Milunovich speculates an Apple/Sony partnership could put Apple at the heart of the HD and digital consumer revolution and provide grist for further earnings per share increase and stock appreciation.


The Aging of Abercrombie & Fitch
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus