UPDATE: Canaccord Maintains Buy Rating, Raises PT for Apple

In a report published earlier today, Canaccord Genuity maintained its Buy rating for Apple Inc.

and raised its price target from $740.00 to $775.00. Canaccord went on to say “While our checks indicate slowing iPhone sales ahead of the iPhone 5 launch, we believe very strong international iPhone sales position Apple for very strong sales of an LTE iPhone 5 in the December quarter and beyond to drive strong F2013 earnings growth. We maintain our belief Apple is well positioned for strong sales and earnings growth driven by new product introductions across its portfolio, including iPhone 5 during this fall and iTV during F2013. Given our increased confidence of an iTV launch, we are adding iTV sales to our higher F2013 estimates.” Apple Inc. closed at $560.28 yesterday.