Financial advice group Rothschild & Co Redburn has raised its Apple price target by a huge $140, specifically because it believes that an iPhone Ultra is a "match made in heaven" for the company.

Analysts believe Apple will do well in the Q3 results. Rothschild & Co Redburn doesn't seem to concentrate much on Apple, and its usual price targets tend to lag behind firms that do, such as Morgan Stanley. But while Morgan Stanley recently dropped its price target by $4 to $360, Rothschild has dramatically increased its from $260 to $400. Unsurprisingly, it's also raised its status from Neutral to Buy.

This may not be the end of the rising price target, either, as the company's Timm Schulze-Melander has told CNBC. "We think we're sitting on this already pretty conservatively," he said, and that "we expect this to be a very strong contender" in the foldable market. Redburn, the finance firm Rothschild & Co's research arm, is confident that the iPhone Ultra will be successful, even as other reports have claimed it will start at $2,325.

Redburn predicts that Apple will sell 14 million of the iPhone Ultra across fiscal year 2027, with just 4 million at the expense of other models. However, the company does warn that there are potential delays for the iPhone Ultra because of manufacturing issues.