BMO Capital Upgrades Qualcomm (QCOM) to Market Perform

October 28, 2016 6:47 AM EDT
Get Alerts QCOM Hot Sheet
Price: $66.88 --0%

Rating Summary:
    22 Buy, 23 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
Trade QCOM Now!
Join SI Premium – FREE

Get the Pulse of the Market with's Pulse Picks. Get your Free Trial here.

BMO Capital upgraded Qualcomm (NASDAQ: QCOM) from Underperform to Market Perform with a price target of $70.00 (from $53.00).

Analyst Tim Long commented, "Qualcomm announced its intention to acquire NXP Semiconductors for $110 in an all-cash deal valued at $47 billion. We are neutral on the deal but raise our rating on QCOM shares from Underperform to Market Perform as we believe the stock will stay in a trading range despite challenging fundamentals in Qualcomm's core business. We increase our price target from $53 to $70, using an EV/FCF of 16x for the combined company, in line with the peer group of mega-cap semiconductor stocks."

For an analyst ratings summary and ratings history on Qualcomm click here. For more ratings news on Qualcomm click here.

Shares of Qualcomm closed at $70.09 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change, Upgrades

Related Entities

BMO Capital, Definitive Agreement

Add Your Comment