Apple Inc. (AAPL) stock is rising today following an upgrade by Credit Suisse.

The financial company changed its rating on AAPL shares from ‘neutral’ to ‘outperform.’ Strong iPhone sales prompted Credit Suisse’s upgrade.

The firm raised the AAPL stock price to $130 from $110. Additionally, Apple’s 2015 earnings-per-share estimate was raised 18% and estimate iPhone sales were also upgraded.

The firm also believes Apple will return more cash to shareholders in 2015. The tech giant seems to be

surging thanks to a rising consumer market and the launch of Apple Watch.

AAPL stock is up about 0.7% Tuesday afternoon.

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