Cowen Remains Bullish on Qualcomm (QCOM) Following Q3 Results; Reaffirms at 'Outperform'

November 3, 2016 12:15 PM EDT
Get Alerts QCOM Hot Sheet
Price: $65.13 +1.46%

Rating Summary:
    22 Buy, 23 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Cowen and Company affirms Qualcomm (Nasdaq: QCOM) at Outperform with a price target of $74 following Q3 results issued Wednesday night.

The firm commented: While there are a lot of moving parts - especially in QTL - the NXPI deal transforms the chip business as 5G takes hold, and QTL is making solid progress on compliance (w/China's efforts to grow an IP ecosystem and become global brands helps too). Even assuming NO more catch-up payments and only low 80%s compliance in China, we are still way above Street for C2017.

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

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