Bear Sterns analyst Andrew Neff has raised his target price on Apple stock, citing robust demand.
He rates the stock as an "outperform" and has raised his target price for the company's shares to $58 from $50.
In a note to clients he describes "robust demand" for the iPod nano and for iBooks. He expects Apple's Mac sales to rise, and states that Apple is gaining market share in the PC market.
Banc of America analyst Keith Bachman last week raised his target price for Apple stock to $56 from $43. He once again pointed to healthy iPod sales, predicting that unit sales growth in the music player market would be higher than expected in 2006.
Both upgrades followed last week's move by Deutsche Securities, when analysts there began covering Apple for their investors, initiating coverage with a $60 target price.
Analysts there also expect Mac sales to increase the company's market share.