Apple price target raised to $170 from $160 at Deutsche Bank

Deutsche Bank raised the firm’s price target on Apple to $170 from $160 and keeps a Buy rating on the shares. The analyst expects Apple to report fiscal Q2 results in line with Street estimates, with strength in iPhone offsetting incremental weakness in other areas. For Q3, the firm sees potential for Products revenue to be lower than estimates, but also expects lower component costs to drive upside to margins, leading to earnings in line with estimates. Deutsche believes investors are attracted by the company’s "quality of earnings and its strong balance sheet in an uncertain macro environment."