UPDATE: Canaccord Genuity Raises Target on Apple to $665

Canaccord Genuity raises its target price on Apple

to $665 from $650 while reiterating its Buy rating on shares as checks indicate iPhone market share is increasing. Canaccord Genuity says, "Our monthly channel checks indicated very strong sales trends for the iPhone 4S at all three U.S. carriers and overall strong iPhone sales in international markets. We are increasing our March quarter iPhone estimates from 30.1M to 32.6M units. We reiterate our BUY rating and increase our price target to $665. Apple remains a top pick." AAPL closed at $476.68 a share yesterday.