UBS Raised Apple's (AAPL) Price Target To $280

Apple Inc.'s (AAPL) good earnings report persuaded UBS analysts to lift the price target for its stock to $280 from a previous $265. They believe in greater recurring iPhone hardware revenue.

Morgan Stanley (NYSE: MS) raised their estimate for Apple (AAPL) at $230 from previous $210. They think that market is underestimating iPhone's earning power.

JP Morgan Securities expects increase in Apple's revenue in 1Q of 2010, and has decided to lift its price target from $210 to $220.

AAPL gained 4.69% today, and closed at $198.76.