UBS Upgrades Apple (AAPL) to Buy; Raises Target to New Street High, $265

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UBS upgrades Apple (Nasdaq: AAPL) from Neutral to Buy, citing higher iPhone expectations. The firm also raised its price target from $170 to $265. This new target represents the new "Street high".

Traders seem to be applauding the upgrade early this morning. The stock is trading near $182.40, up about $1.50 from yesterday's close.

Visit our Analyst Ratings page to see all the analyst action on shares of Apple.

Apple Inc. and its wholly owned subsidiaries design, manufacture, and market personal computers, portable digital music players, and mobile communication devices, and sell various related software, services, peripherals, and networking solutions.

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