Canaccord Ups Apple Price Target To $135 a Share

Canaccord Genuity analyst Michael Walkley on Tuesday raised his price target on Apple Inc.'s stock to $135 a share from $120. Walkley said that smartphone surveys for November "indicated very strong demand for the iPhone 6 and 6 Plus smartphones." Walkley added that while Apple has had some issues meeting demand for the 64-gigabyte versions of the new iPhones, he still believes Apple will ship 63 million iPhones during the first quarter of its 2015 fiscal year. Apple shares were off by almost 1% at $114.12 in early trading.

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