Apple price target raised to $158 from $153 at BofA

BofA analyst Wamsi Mohan raised the firm’s price target on Apple to $158 from $153 and keeps a Neutral rating on the shares. The firm liked that the installed base has grown to over 2B devices, both paid and transacting accounts grew double-digits year-over-year, capital returns remain strong and margin performance was strong. However, it is concerned that total revenue came in lower than the firm’s and Street’s estimates and that it does not see a catalyst to drive demand higher.