“Bullish, but not banking on the Verizon iPhone,” JPMorgan has upped Apple’s price target to US$400 Thursday, reports “TheStreet” (http://macosg.me/2/xq).

JPMorgan analyst Mark Moskowitz told clients that the Verizon iPhone — if and when it arrives — will boost Apple’s earnings 11% annually, or $2 a share. But Moskowitz isn’t basing his financial projections or his $400 price target on the possibility of the iPhone going to Verizon, but on current iPhone and iPad sales.