Apple remains a Wall Street darling with UBS analysts raising the stakes in the Cupertino computer company.
Analysts last night raised their price target on Apple stock from $59 to $64, and said the iPod nano could be a "key product" for the company, adding that many retail outlets are "struggling" to keep the gadget in stock, Forbes reports.
Sales of the new music player will account for "just below" 50 per cent of total iPod sales in fiscal 2006, the analysts said.
"We believe Apple remains one of the best stories in the technology spectrum," they added.
Citigroup analyst Richard Gardner added his weight to analysts' fast-growing Apple optimism, raising his price target to $55 from $40. He expects Apple to sell ten million iPods in the next 13 weeks.
Yesterday Macworld reported analysts at Bear Sterns and Banc of America had raised their target price for Apple, on strength of strong Mac and iPod sales.
Deutsche Securities last week initiated coverage on Apple stock with a $60 target price.
Apple shares closed at $53.84 last night.