Apple target lifted at UBS ahead of earnings

UBS analyst Timothy Arcuri raised his price target on Apple Inc.’s stock

AAPL, +0.35%

to $235 from $225 on Monday, a day before the company is due to report fiscal third-quarter earnings. While he said that the upcoming results are “unlikely to be [a] material catalyst,” he sees low expectations going into the report. “Even if this year is subdued, it only sets up for a stronger 5G cycle in 2020 (at least two models),” Arcuri wrote. “Apple has traded with the market in the recent weeks, but July/Aug are historically the best months to buy for three-month return and we slightly bump up our target.” He has a buy rating on the stock, which has risen 32% so far this year as the Dow Jones Industrial Average

DJIA, +0.01%

has climbed 17%.

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