Canaccord Genuity Reiterates a 'Buy' on Qualcomm (QCOM); Raising Numbers After Record Holiday Quarter

Canaccord Genuity reiterates a 'Buy' on Qualcomm (NASDAQ: QCOM) price target raised $1 to $75.

Analyst, T. Michael Walkley, said, "Qualcomm posted strong Q1/F2012 results above our estimates and consensus, provided impressive Q2/F2012 guidance, and raised full-year F2012 guidance. We believe QCOM 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 integrated chipsets, and accelerating 3G device sales in emerging markets."

"...we are raising our F2012 pro forma EPS estimate from $3.55 to $3.71 and our F2013 estimate from $4.10 to $4.17."

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 $59.56 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
• Bernstein SocGen Group Reiterates Outperform Rating on JD.com, Inc (JD), 'very cheaply valued'
• Pro Diversity Network (IPDN) Reports Q2 Loss of $0.15