UPDATE: Cantor Fitzgerald Initiates QUALCOMM with Buy, $66 PT on Smartphone Exposure

Cantor Fitzgerald initiates its coverage on QUALCOMM QCOM with a Buy rating and a price target of $66. Cantor Fitzgerald comments, "While we forecast the wireless device market will show 9% CAGR over the next four years, we estimate the smartphone market will grow at a 28% CAGR over the same period. Gartner has estimated that Qualcomm had a 45% market share of baseband chips in smartphones in 2011, and we expect that Qualcomm could expand that share in 2012, as its new Snapdragon MSM (and its variants) is winning a disproportionate share in new smartphones." QCOM closed at $54.91 on Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetInitiationPre-Market OutlookAnalyst RatingsCantor Fitzgerald
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!