Canaccord Genuity Reiterates a 'Buy' on Qualcomm (QCOM); Global Smartphone Sales and ASP Trends Positive

Canaccord Genuity reiterates a 'Buy' on Qualcomm (NASDAQ: QCOM), PT $70.

Canaccord analyst says, "With leading global handset OEMs reporting strong Q1/11 smartphone unit sales with improving ASP trends, we believe these trends are positive for Qualcomm. We maintain our belief Qualcomm is well positioned to post strong earnings growth during F2011 and F2012 due to stable royalty rates, strong tablet and smartphone sales, increasing market share for Qualcomm’s integrated chipsets, and accelerating 3G device sales in emerging markets such as China and India."

For more ratings news on Qualcomm click here and for the rating history of Qualcomm click here.

Shares of Qualcomm closed at $57.09 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Optimum Communications gets NYSE non-compliance notice over stock price
• Movano (MOVE) Misses Q2 EPS by 195c