Deutsche Bank Reiterates Buy Rating, $78 PT on Qualcomm on Front End Module Announcement

In a report published Monday, Deutsche Bank reiterated its Buy rating and $78.00 price target on Qualcomm

. Deutsche Bank noted, “The week before the Mobile World Congress, Qualcomm made its announcement of the RF360 Front End Module (FEM). As we noted in our comments last week, this product line is a result of over five years of internal development at QCOM. The RF360 is expected to start shipping in two phones later this year. At MWC, we met with most of QCOM's baseband competitors, several component suppliers, device vendors and industry contacts. Bottom line, we reiterate our Buy rating on QCOM.” Qualcomm closed on Friday at $66.30.