SAN FRANCISCO – Apple Inc. was upgraded to an outperform rating by Robert W. Baird on Tuesday morning, following the company's fourth-fiscal quarter earnings report the previous afternoon. In a note to clients, analyst Will Power cited more "catalysts" in the coming year, which could include a larger-screen iPhone, TV, wearable devices and the addition of China Mobile to the iPhone's carrier base. "We had been concerned with the current product cycle, but with better-than-expected results now behind us, we expect the focus to turn to 2014, which we believe holds more promise," he wrote, setting a $620 price target on the shares. Apple's stock was trading up a fraction at $530.66 on Tuesday morning.
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