Two major financial companies increase their price targets for Apple stock showing that there is still growth potential for the iPhone, iPad and Mac.

JP Morgan analyst, Mark Moskowitz, forecasts Apple stock to reach $420 in 2011 with the company riding high on another growth spurt. Apple’s main product line will register balanced growth, as Moskowitz wrote in a note to investors on Thursday:

While the iPhone and iPad are expected to be the biggest contributors to revenue growth in the near to mid-term, the Mac business is expected to be an important contributor as well. By the end of (fiscal year) 2011, we expect the Mac to regain prominence in the Apple growth story as the company addresses the multi-billion dollar opportunity in the Target Zone of PCs.

Moskowitz also believes that the launch of the iPhone for Verizon will increase the device’s sale’s momentum.

The analyst also significantly increased the numbers for iPad sales. The previous prediction was 21.3 million and Moskowitz now expects a total number of 26.6 million iPads to be sold worldwide. The analyst also sees Apple selling a total of 60 million iPhones, 46 million iPods and 17.3 million Macs next year.

Kaufman Bros. Analyst, Shaw Wu, expects the iPad and iPhone sales to be much higher than previously expected.

Our triangulation of data points from our proprietary checks and market research indicate that the strength we saw through Black Friday weekend… is carrying into the present. This is leading us to believe this will be another holiday season with more users allocating more of their tight budgets to Apple’s platforms.

Wu sees Apple selling 4.2 million Macs, 6.1 million iPads, 16 million iPhones and 17 million iPods in the fourth quarter alone.