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Apple upgraded at Smith Barney

Smith Barney analyst Richard Gardner has upgraded Apple to “in-line” from “underperform” on the belief that the new iTunes Music Store could be worth an additional US$3 to its share price, according to CBS Marketwatch. Therefore, he raised his 12-month price target to $18 from $15. “While our revised target suggests little upside potential, we see relatively limited downside potential from current levels as well,” Gardner said in a note to clients.

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