UBS analyst Benjamin Reitzes has reiterated the firm’s “buy” rating on Apple Inc. (AAPL) and hiked the target price 20% from $133 to $160.
Reitzes wrote in a note to clients that Apple could ship 150,000 iPhones in the third quarter and 800,000 in the fourth quarter.
“iPhone and free cash flow potential is even greater than investors realize,” Reitzes wrote.