Apple Inc. (NASDAQ:AAPL) unveiled today its new water and dust-resistant iPhone 7 with high-resolution cameras as the tech giant seeks to reignite sales. Piper Jaffray analyst Gene Munster believes that while the updates to the device were in-line with some better than expected improvements to battery, the device will be compelling enough to encourage consumers to upgrade to return the company to growth.

Munster commented, “The design of the device is incrementally improved, but not meaningfully different than the iPhone 6S. […] While most of the features are in-line with expectations, we believe the battery life improvements via hardware/software integration through the A10 chip are perhaps the most important to the everyday consumer. The iPhone 7 will last on average up to 2 hours more than the iPhone 6S and the iPhone 7 Plus up to one hour over the iPhone 6S Plus. We estimate the typical phone lasts 10-12 hours, thus this adds around 10-20% to battery life that a consumer would feel. We view the battery improvements are better than expected, but the rest of the updates were in-line with our thinking.”

The analyst remains comfortable in his 11% y/y iPhone unit growth estimate for FY17 and believes this overall return to growth will encourage investors to return to the stock. As such, Munster reiterates a Buy rating on Apple shares with a price target of $151, which implies an upside of 39% from current levels.

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, top analyst Gene Munster has a yearly average return of 18.6% and a 65% success rate. Munster has a 12.7% average return when recommending AAPL, and is ranked #6 out of 4147 analysts.

Out of the 48 analysts polled by TipRanks, 38 rate Apple stock a Buy, 7 rate the stock a Hold and 3 recommend Sell. With a return potential of 14.8%, the stock’s consensus target price stands at $124.46.