Shebly Seyrafi, an analyst with Wall Street investment bank Caris & Co., this morning raised his price target for Apple stock, forecasting that iPod sales in the coming (June) quarter should be up from the current (March) quarter. Seyrafi says he now sees iPod units in the quarter growing to 11.9 million units from 10.5 million in Q1; his previous forecast called for a decline to 10 million units.

He also sees a rosy sales future for the iPhone, and suggests that his already startling numbers could be too low. Seyrafi expects 17 million units in fiscal 2008 and 25 million in fiscal 2009. Apple CEO Steve Jobs had predicted getting to 1% global market share, or about 10 million phones, in the first year.

via Eric Savitz’ blog at Barrons’ Online Tech Trader Daily