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UBS raises price target on Apple

UBS Investment Research raised its price target on Apple to US$64 from $59 and maintained a “buy” rating on the stock based on its analysis of the 4-gigabyte iPod nano, reports Forbes. “Counter to some accounts pointing to a hit to margins, we believe the iPod nano should support our gross-margin estimates, especially if the company receives favorable pricing for components like flash memory,” said the research firm.

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