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Canaccord Lowers Price Target On Qualcomm Amid 2015 Guidance

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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.

Latest Ratings for QCOM

DateFirmActionFromTo
Apr 2015Exane BNP ParibasDowngradesOutperformNeutral
Apr 2015Bank of AmericaUpgradesNeutralBuy
Apr 2015FBR CapitalDowngradesOutperformMarket Perform

View More Analyst Ratings for QCOM
View the Latest Analyst Ratings

Posted-In: Canaccord Michael WalkerlyAnalyst Color Price Target Reiteration Analyst Ratings

 

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