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Ahead of Apple's March quarter earnings report, another firm has raised its price target on the company's shares.

Investing.com has word of the move from Deutsche Bank.

The way the firm sees it, Apple will meet the streets expectations with strength in iPhone offsetting incremental weakness in other areas.

Of course, price targets are less about how a company did last quarter than how it's expected to do going forward.

Deutsch Bank highlights a few factors working in Apple's favor for the current quarter, while the firm sees potential for products revenue to be lower than its estimates, it also expects lower component costs to drive upside to margins, leading to earnings per share in line with the bank's

expectations. The Deutsche Bank also expects revenue for Apple's services segment

to grow modestly at 5% to 10% year on year as foreign exchange rates become less

of a headwind.

All of that leaves investors attracted by the company's quality of earnings and its strong balance sheet in an

uncertain macro environment. The bank used last week's note to reiterate its buy

rating on Apple shares. As for the price target rise, it really just sounds like keeping

up with current levels. Deutsche Bank raised its 12-month price target on Apple from $160 to 170.

Apple closed Friday at 16968.

Banging the drum for better days is Wed Bush analyst Daniel Ives.

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