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Jefferies hikes Apple price target to $900 a share

NEW YORK (MarketWatch) -- Jefferies analyst Peter Misek on Friday lifted his price target on Apple Inc. to $900 a share from $800 a share on a bullish view of the computer maker's iPads, iPhones and an expected launch of iTV by the end of the company's first fiscal quarter next year. Based on checks by Jefferies and other market data, Misek said iPad production has been increased to 25 million units from 18 million for the third quarter. "We continue to think Apple will have about 15 million iPhone 5 handsets by mid-September," he said. The debut of the iPhone 5 will be "the biggest handset launch in history." Misek reiterated his buy rating on Apple.