Canaccord Lowers Price Target On Qualcomm Amid 2015 Guidance
In a noted released Thursday, Canaccord analyst T. Michael Walkerly maintained a Buy rating on Qualcomm (NASDAQ: QCOM), but lowered his price target to $90 based on a downward revision to his 2015 pro forma EPS estimate.
The 2015 pro forma EPS estimate revision (from $5.98 to $5.60) is due to the company's decision to exclude 215 million 3G/4G units from its calendar 2014 TRDS market estimates.
Qualcomm was down 6.52 percent to $76.28, at last check.
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