Vetr Advises Hold On Qualcomm After M&A News

The Vetr crowd on Monday downgraded its rating on QUALCOMM, Inc. (NASDAQ: QCOM) from 4.5 stars (Strong Buy), issued 128 days ago, to 3 stars (Hold). Crowd sentiment at the time of the downgrade was generally negative, with 60 percent of Vetr user ratings bearish.

Qualcomm shares spiked in Friday's session to a high of $64.90 after talk of a merger agreement emerged between the company and industry competitor Broadcom. On Monday, the stock opened close to its Friday high. However, shares slowly fell over the course of the trading day and Qualcomm finished the day at $62.52.

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Currently, the Vetr crowd's average price target on Qualcomm is down at $62.71, which is below the average analyst price target of $66.26. Less than 2 percent of Vetr users are holding $QCOM in their watch-lists.