Investment bank Canaccord Genuity on Tuesday raised its price target on Dow component Apple (AAPL) stock, saying the upcoming iPhone 8 will fuel a big upgrade cycle and be a catalyst for shares.
Canaccord analyst Michael Walkley reiterated his buy rating on Apple and upped his price target to 180 from 165.
Apple was down 0.5%, near 154.80, in morning trading on the stock market today. It hit a record high of 156.65 on Monday.
"We anticipate strong demand for new iPhone products launching in...