A big hike, as snagged by CNBC:
UBS raised its price target on Apple shares to $250 from $215 citing the company’s “recurring hardware revenue stream” from its iPhones. Analysts at the bank also said revenue for Apple’s services segment could grow 20 percent on a year-over-year basis for the next two years.
Maintains Buy, raises price target to $250 from $215.
My take: Timothy Arcuri, long underwater, has come up for air. Tune in tomorrow at 10 a.m. Pacific (1 p.m. Eastern) for the big reveals.