Canaccord ups Apple price target

“Apple Inc.’s strong smartphone demand during the fourth quarter should help drive long-term unit sales, analysts at Canaccord said in a note to clients Monday,” Jennifer Booton reports for MarketWatch.

“The analysts raised their price target on Apple’s stock to $145 from $135,” Booton reports.

“‘Growing iPhone user base should drive steady [long term] iPhone sales and strong cash flows,’ the analysts said,” Booton reports.

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