“Shares of Apple Inc (AAPL) are rising, up 0.26% to $111.54 in pre-market trading Thursday, after the technology company had its price target raised to $120 from $110 by analysts at Bernstein this morning,” Kurumi Fukushima reports for TheStreet.
“Analysts at the firm maintained its ‘outperform’ rating, and said the Apple Watch is a shift towards higher margin App Store revenue,” Fukushima reports. “Bernstein analysts also said Apple Pay will boost margins in full year 2015, and added that gross margins have historically been a key driver of Apple’s stock performance.”
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