(Updated - September 14, 2018 9:16 AM EDT)

(updated to add analyst comments)

Monness, Crespi, Hardt analyst Brian White raised the price target on Apple (NASDAQ: AAPL) to $300.00 (from $275.00) while maintaining a Buy rating. The price target is a new Street High.

White commented, "After an action-packed week with new iPhone and Apple Watch innovations unveiled, pre-orders began this morning. On the heels of this week’s event, we are increasing our price target to $300 (from $275) to reflect our view that Apple’s stock is still underappreciated with a depressed valuation, combined with our enthusiasm around this week’s innovations that support this durable iPhone cycle with favorable ASPs. Moreover, we look forward to continued momentum in Services and we believe Apple’s hard-line stance on data privacy will increasingly be rewarded. In our view, the best days of innovations are still in front of Apple."