Wedbush analyst Scott Sutherland on Tuesday upped his price target on shares to $885 from $800, reflecting bullish expectations for both the iPhone 5 and iPad mini.

As you no doubt know by now, that it will hold a press event in San Francisco on September 12. The company isn’t saying anything about what’s coming,https://addons.mozilla.org/zh-CN/firefox/user/6477998/, but the expectation is that we will finally get to lay eyes on the iPhone 5.

“Given carriercomments, we expect the iPhone 5 to feature LTE, which we see as a major selling point for the device,” Sutherland writes in a research note. “We would point to out Mobile Device Survey in July that indicated that 35% of survey respondents were likely to purchase an iPhone while no other competitor was found to have a consumer preference greater than 20%.” Sutherland upped his September quarter iPhone unit forecast to 24.1 million, from 21.6 million, and cautions that he may still be too conservative.

Sutherland is a believer that the iPad Mini chatter is real; he expects to see it later this fall. In response, he is boosting his FY 2013 unit forecast for the iPad to 94.2 million from 90.8 million, though with a lower ASP to reflect the likely lower price point for a smaller device. The analyst adds that he thinks a TV with a new user interface and iCloud compatibility is coming in 2014.

For FY 2013, Sutherland now sees profits of $44.05 a share,http://www.idealist.org/view/user/wpSnzhK6cbJd/, up from $43.68.

For 2014, his new forecast is $52.60 a share, up from $52.49.

Sutherland maintains his Outperform rating on the stock.

Apple today rose $9.73, or 1.5%, to $674.97.

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