Apple (NASDAQ: AAPL) rose by 0.4% on Friday morning after a Wedbush analyst raised his price target on the stock, citing expectations of stronger growth in iPhone sales.

Wedbush analyst Daniel Ives reiterated his “outperform” rating on Apple’s stock, but raised his price target to USD 325.00 per share.

Ives said in a note to clients that he believes Apple "still in the midst of a renaissance of iPhone growth heading into 2020 that will further catalyze the stock higher as it gets re-rated from the Street."

Separately, JPMorgan analyst Samik Chatterjee raised his price target on Apple to USD 290 per share from USD 280.00 per share, citing opportunities for Apple in the advertising marketspace.

"While investors are trying to identify the next big frontier for services, we believe hidden in plain sight and underappreciated by most is the advertising opportunity within Apple's fingertips, given the secular migration of advertising dollars to mobile platforms, the large installed base of close to [1 billion] iPhone users, and importantly, Apple's successful exploration of advertising to-date," wrote Chatterjee in a note.

However, on Thursday, Apple was downgraded by Maxim Group over concerns on iPhone sales growth. Maxim analyst Nehal Chokshi warned that Apple’s iPhone sales for the March quarter will be lower than expectations. Moreover, Maxim expects iPhone revenue to stumble by 5% in fiscal 2020.

Chokshi put a price target of USD 190.00 on Apple’s stock.

Bloomberg MODL estimates that Apple will ship 190.1 million iPhones, with an average selling price of USD 750.71 in fiscal 2020.