Even after a 34 percent year-to-date gain, Warren Buffett isn’t finished buying Apple Inc. (NASDAQ:AAPL). Apparently, neither is Wall Street.

For Canaccord analyst Michael Walkley, the Apple story is all about iPhone 8 sales.

“We anticipate strong demand for new iPhone products launching in September and have increased our 2018 iPhone estimates, leading to our increased price target,” Walkley explained. Canaccord maintains its Buy rating for Apple, but raised its target price for the stock from $165 to $180.

Related Link: Analyst Takes Deep Dive Into Apple's Q2 10-Q (Spoiler Alert - He Found Lots Of Cash)

For UBS analyst Steven Milunovich, a shift in the way the market perceives Apple could help expand the company’s multiple.

“Buffett views the iPhone brand as a moat to competition and believes people will keep buying iPhones much like people keep buying Coke,” Milunovich writes. “Such a view se-risks Apple and implies a multiple closer to 20x, similar to leading consumer brands.”

Today, Apple’s forward PE multiple stands at just 14.9.

UBS also maintains its Buy rating for Apple and has a $165 price target for the stock.

Apple's stock opened Tuesday's session at 4155.94.