Qualcomm Now A Buy, Vetr Crowd Says

Shares of QUALCOMM, Inc. QCOM have gained almost 27 percent since the year started, and more than 18.4 percent over the third quarter alone.

The Vetr crowd seems to believe the rally will continue, as evidenced by its average price target of $66.21. This target implies a potential return of roughly 5.05 percent from current valuations.

Related Link: Here's How Crowdsourced Ratings Can Beat The Market

Seeking to better reflect this upside potential, the Vetr community decided to upgrade its rating on shares of Qualcomm on Thursday, from 3.0 (Hold) to 3.5 stars (Buy) — out of a possible five-star rating.

It should be noted that, in accordance with the new rating, 73 percent of the crowd’s ratings are bullish at the time.