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Apple Gets Another Street-High Target on Virtual Reality Boost

  • Apple to benefit from VR products, vehicles: Morgan Stanley
  • IPhone maker’s shares closed at record high on Monday
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Photographer: Don Emmert/AFP/Getty Images

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Apple Inc. got its second Street-high price target as Morgan Stanley sees it benefiting from new product categories in virtual reality and autonomous vehicles.

Analyst Katy Huberty, who rates Apple overweight, raised her price target to $200 from $164, matching Wedbush as the highest among targets tracked by Bloomberg. The shares rose as much as 3.3% to $170.78 Tuesday, a fresh record.