UBS ups Apple price target to $166

UBS analyst David Vogt in a note to clients on Tuesday raised the firm’s price target on Apple to $166 from $155, maintaining a “Buy” rating on the stock.

Vogt raised the firm’s Q321 EPS to $1.01 (vs. $0.95) and revenue estimates to $74.7 billion (vs. $71.3 billion) based on iPhone and Mac sales strength despite supply chain headwinds.

The analyst foresees solid iPhone unit demand in America, Apple’s largest market, fueled in part by aggressive carrier promotions.

MacDailyNews Take: From David’s lips to Mr. Market’s ears!