Dow's Apple Gets Price-Target Hike Before iPhone 8 Upgrade Cycle

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...

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