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UPDATE: Canaccord Raises PT on QUALCOMM on Share Gains

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In a report published Monday, Canaccord Genuity analyst T. Michael Walkley reiterated a Buy rating on QUALCOMM (NASDAQ: QCOM), and raised the price target from $83.00 to $85.00.

In the report, Walkley noted, “We believe Qualcomm is well positioned to post strong earnings growth during F2013 due to stable royalty rates, strong connected tablet and smartphone sales driving stable ASP trends, strong 3G device sales in emerging markets, and an increasing mix of LTE MSM sales combined with strong QTL growth trends. We reiterate our BUY rating and increase our price target to $85 from $83.”

QUALCOMM closed on Friday at $65.16.

Latest Ratings for QCOM

DateFirmActionFromTo
Nov 2014BarclaysMaintainsOverweight
Nov 2014Bank of AmericaMaintainsNeutral
Nov 2014Canaccord GenuityMaintainsBuy

View More Analyst Ratings for QCOM
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Price Target Analyst Ratings

 

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