“Apple Inc.’s 12-month price target was lifted to $127 a share from $115 by UBS analysts Steven Milunovich and Benjamin Wilson, in a note to clients on Tuesday,” Barbara Kollmeyer reports for MArketWatch.

“The analysts based that increase partly on expectations for higher earnings per share in 2017 — to $9.30 from $9 previously,” Kollmeyer reports. “UBS said early signs of demand for the iPhone 7 are ‘encouraging.'”

Kollmeyer reports, “They added that Apple gains could fade in the next two weeks and then move up into earnings.”

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MacDailyNews Take: UBS in August predicted better iPhone sales than the general consensus at the time.

UBS: Apple will sell more iPhones in fiscal 2017 and 2018 than expected – August 3, 2016