Goldman Sachs Boosts Numbers on Qualcomm (QCOM); Q1 Shows "Decoupled" from Apple
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Price: $65.76 -0.51%
Rating Summary:
25 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 26
Rating Summary:
25 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 26
Trade QCOM Now!
Goldman Sachs boosted its price target on Conviction Buy-List rated Qualcomm (NASDAQ: QCOM) from $74 to $80 following strong Q1 results.
The analyst comments, "We reiterate our Conviction Buy on the stock, as the strong quarter demonstrated that Qualcomm is indeed decoupled from Apple, and that it
can continue to grow with the broader smartphone market regardless of underlying share shifts, given its broad customer exposure, including in particular to Samsung and LG who are currently gaining share."
The firm raised FY13/14/15 EPS estimates to $4.69/$5.11/$5.61 from $4.52/$5.02/$5.47 on stronger smartphone market growth and a more positive market share outlook for Qualcomm as a result of its recently announced Snapdragon 600/800 roadmap.
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 $63.53 yesterday, with a 52 week range of $53.09-$68.87.
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The analyst comments, "We reiterate our Conviction Buy on the stock, as the strong quarter demonstrated that Qualcomm is indeed decoupled from Apple, and that it
can continue to grow with the broader smartphone market regardless of underlying share shifts, given its broad customer exposure, including in particular to Samsung and LG who are currently gaining share."
The firm raised FY13/14/15 EPS estimates to $4.69/$5.11/$5.61 from $4.52/$5.02/$5.47 on stronger smartphone market growth and a more positive market share outlook for Qualcomm as a result of its recently announced Snapdragon 600/800 roadmap.
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 $63.53 yesterday, with a 52 week range of $53.09-$68.87.
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Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Goldman Sachs Conviction Buy List, Goldman Sachs
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