Apple Inc.’s 12-month price target was lifted to $127 a share from $115 by UBS analysts Steven Milunovich and Benjamin Wilson, in a note to clients on Tuesday. The analysts based that increase partly on expectations for higher earnings per share in 2017 — to $9.30 from $9 previously. UBS said early signs of demand for the iPhone 7 are “encouraging,” but that they also wouldn’t get too carried away. “Verizon said it isn’t seeing unusual demand, and we don’t know what is happening in China, where there have not been aggressive promotions,” said the analysts. They added that Apple gains could fade in the next two weeks and then move up into earnings. Read: How Apple’s stock tends to trade around its September event
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