NEW YORK (TheStreet) -- Apple (AAPL) shares had their price target increased to $115 by analysts at Evercore Partners (EVR) on Wednesday.
The firm took this action in anticipation of the gains they expect the company to make following the release of its iPhone 6 and the 5 million units of the "iWatch" they expect the company to sell this year.
"We see Apple creating its own growth through uniquely innovative hardware+software with integrated services vs. a sea of otherwise commodity devices," said analyst Rob Cihra.
Must Read: Warren Buffett's 25 Favorite Stocks
Apple shares are up 0.4% to $93.89 in early market trading today.
TheStreet Ratings team rates APPLE INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate APPLE INC (AAPL) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."