Mizuho Securities raised its price target on Apple (NASDAQ: AAPL) to $135.00 (from $130.00) while maintaining a Buy rating.

Analyst Abhey Lamba comments "Apple reported upside to estimates with iPhone units/ASPs showing outperformance. Management sounded positive about incremental strength across the product portfolio with ongoing services attach to installed base. The company's F2Q outlook showed modest downside to revenue estimates but seemed better than feared. We like what we see and remain positive about the upcoming upgrade cycle opportunity given strong installed base growth."