RBC Capital analysts offer bullish forecasts for both Apple Inc. (NASDAQ:AAPL) and Wells Fargo & Co (NYSE:WFC), on back of reassuring survey results diving deeper into AAPL’s iPhone 7 and in spite of WFC’s retail sales practices coming into question before the Senate Banking Committee. Let’s take a closer look:

Apple Inc.

RBC Capital analyst Amit Daryanani is out with a research report on Apple evaluating the results of his iPhone 7 survey of over 6,000 individuals. The results leave Darvanani continuing to be upbeat on the tech giant, highlighting a several key points.

First, Darvanani believes that a “mix shift toward the 5.5” model could drive substantial average selling prices (ASP) upside: 46% of respondents plan to buy the larger form factor 5.5” iPhone.”

Second, the analyst notes that “mid-tier memory remains attractive: >50% of consumers intend to purchase the mid-tier memory model (vs. 55% last year), given the increased memory configurations we think this is positive and better than feared.”

Third, Daryanani’s survey “suggests there could be stability in the iPhone replacement cycle (or at minimum it will elongate at a slower pace).”

Fourth, as Darvanani sees a “steady uptick in ancillary products and services,” and as such, the analyst anticipates, “We think ASPs could surprise investors on the upside due to both increased preference for iPhone 7+ and $20 higher ASP this year vs. last generation.”

In light of these encouraging survey results, the analyst reiterates an Outperform rating on shares of AAPL, while raising the price target from $120 to $125, which represents a 9% increase from where the stock is currently trading. Additionally, the analyst anticipates an upside in ASP and accordingly tweaks forward estimates in $8 to $10 increases, a reflection of mix shift tailwinds.

As usual, we like to include the analyst’s track record when reporting on new analyst notes to give a perspective on the effect it has on stock performance. According to TipRanks, four-star analyst Amit Daryanani is ranked #512 out of 4,175 analysts. Daryanani has a 66% success rate and realizes 4% in his annual returns. When recommending AAPL, Daryanani yields 12% in average profits on the stock.

TipRanks analytics indicate AAPL as a Strong Buy. Based on 36 analysts polled in the last 3 months, 31 rate a Buy on AAPL, 4 maintain a Hold, while 1 issues a Sell. The 12-month average price target stands at $127.83, marking a nearly 12% upside from where the shares last closed.

Wells Fargo & Co

This week, Wells Fargo Chairman & CEO John Stumpf answered questions before the Senate Banking Committee as to the banking giant’s retail sales practices. This comes on the heels of WFC’s recent settlement with the OCC, CFPB, and Los Angeles City Attorney regarding the opening of unauthorized customer accounts.

RBC Capital analyst Joseph Morford reiterates an Outperform rating on WFC, while trimming the price target from $54 to $52, which represents a 14% increase from where the shares last closed.

From the analyst’s perspective, “Given how the senators generally seemed disappointed with the answers provided and the actions taken for reparation & retribution, the increasingly negative political and media firestorm over this issue is likely to continue. We also expect this will lead to further regulatory scrutiny, and unfortunately the longer it persists, the greater risk there is of more permanent damage to the company’s reputation.”

“Despite the near-term uncertainties regarding headline risks and increased political & regulatory scrutiny, not only does the financial impact look manageable but also the company has the capital to absorb the increased costs and still maintain its above-average dividend payout. Meanwhile, the current valuation looks attractive with the shares having given up much of their historical premium,” Morford concludes.

Of course, Morford acknowledges that this situation is “disappointing.” However, ultimately the analyst has faith that WFC will confront the challenge and find a way to resolve the issues at hand.

According to TipRanks, four-star analyst Joseph Morford is ranked #792 out of 4,175 analysts. Morford has a 63% success rate and gains 7.5% in his yearly returns. When recommending WFC, Morford earns 2.3% in average profits on the stock.

TipRanks analytics demonstrate WFC as a Buy. Based on 20 analysts polled in the last 3 months, 12 rate a Buy on WFC, 5 maintain a Hold, while 3 issue a Sell. The consensus price target stands at $53.06, marking a 16% upside from where the shares last closed.screen-shot-09-22-16-at-08-55-pm