Nomura Lowers Price Target On Qualcomm On Lowered FY15 Guidance

Loading...
Loading...
In a report published Thursday, Nomura analyst Romit Shah reiterated a Buy rating on
Qualcomm, Inc.QCOM
, but lowered the price target from $85.00 to $75.00. In the report, Nomura noted, “Qualcomm lowered FY15 guidance due to share loss at Samsung, product mix, and heightened pricing pressure in China. While the outlook is worse than our expectations, the company made progress in China by announcing resolution with a key licensee. We believe that settling the NDRC investigation is an important catalyst for shares. We believe shares remain attractively valued, trading at less than 10x enterprise value to free cash flow, based on an after-market price of $65 per share.” Qualcomm closed on Wednesday at $70.99.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsNomuraRomit Shah
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!

Loading...