Canaccord Genuity Reiterates a 'Buy' on Qualcomm (QCOM); Upbeat Analyst Day: Positioned for Strong Long-Term Growth

Canaccord Genuity reiterates a 'Buy' on Qualcomm (NASDAQ: QCOM) price target of $74.00.

Canaccord analyst, T. Michael Walkley, said, "We attended Qualcomm’s analyst day and maintain our belief MSM market share gains will help drive F2012 growth, with expanding margins and new market opportunities such as Windows 8 driving longer-term growth. We believe Qualcomm is well positioned to post strong earnings growth during F2012 and F2013 due to stable royalty rates, strong connected tablet and smartphone sales, increasing market share for MSM integrated chipsets, accelerating 3G device sales in emerging markets, and expanding QCT margins longer term."

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 $56.88 yesterday.

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