Two leading brokers issued 'outperform' assessments on Apple stock, driving company share values up $1.48 on yesterdays trading.
Credit Suisse First Boston (CSFB) raised Apple to outperform from neutral because anslysts there believe Apple is set to profit from success in the PC market, "as the Mac line has just completed its second straight quarter of market share gains", said Dow Jones.
CSFB analyst Robert Semple raised his stock price target to $45 from $40, saying: "We believe that while iPod has been the growth catalyst for the story to date, the Mac business is now poised to deliver strong growth, market share gains and positive earnings revisions over the coming quarters."
Piper Jaffray echoed CSFB's upbeat 'outperform' rating, issuing a $52 target price, on strength of improved availability of Apple's Mac mini and PowerBook G4 computers. This availability is tied to continued robust sales, the analysts said.