UBS hikes Apple price target to $250 from $215

A big hike, as snagged by CNBC:

UBS raised its price target on Apple shares to $250 from $215 citing the company’s “recurring hardware revenue stream” from its iPhones. Analysts at the bank also said revenue for Apple’s services segment could grow 20 percent on a year-over-year basis for the next two years.

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Maintains Buy, raises price target to $250 from $215.

My take: Timothy Arcuri, long underwater, has come up for air. Tune in tomorrow at 10 a.m. Pacific (1 p.m. Eastern) for the big reveals.

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