Shares of Apple Inc rose more than 1 percent before the bell on Tuesday after theflyonthewall.com reported that RBC, a brokerage, started coverage of the company with an outperform rating and a $160 price target.

In addition, the company and AT&T Inc announced three service plans for the Apple iPhone which goes on sale on Friday.

Apple shares rose to $123.68 in electronic trade from a close of $122.34 on the Nasdaq.

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