“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.”

Read more in the full article here.

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

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