Apple has a new analyst on Wall Street and he likes the stock

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Apple chief design officer Jony Ive (L) and Apple CEO Tim Cook inspect the new iPhone XR during an Apple special event at the Steve Jobs Theatre on September 12, 2018 in Cupertino, California.

Justin Sullivan | Getty Images News | Getty Images

A new analyst at RBC Capital Markets just started covering Apple’s stock and is bullish on the company’s long-term innovation and growth.

The firm initiated coverage of Apple with an outperform rating and a $295 per share price target, a near 13% upside from its closing price of $261.96 on Tuesday.

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