Deutsche Bank Reiterates a 'Buy' on Qualcomm (QCOM); Comments on Q1 Results
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Price: $165.79 +0.61%
Rating Summary:
25 Buy, 33 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
25 Buy, 33 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Deutsche Bank reiterates a 'Buy' on Qualcomm (NASDAQ: QCOM) price target raised from $70 to $72.
Deutsche analyst says, "Qualcomm reported Q1 revenues of $4.7b, beating our estimate and consensus of $4.6b. Pro-forma EPS of $0.97 also beat our estimate of $0.92 and consensus of $0.90. Management raised full-year guidance stating that growth is being driven by continued smartphone growth and the adoption of 3G and 4G technologies. We continue to believe that Qualcomm is well positioned to benefit from underlying demand trends in wireless technologies."
"One wrinkle emerged on the call. The DOJ has begun a probe of the company around unspecified charges related to the Foreign Corrupt Practices Act. The company received notification of this last week and they termed the matter too preliminary to offer further detail at this stage."
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.
Deutsche analyst says, "Qualcomm reported Q1 revenues of $4.7b, beating our estimate and consensus of $4.6b. Pro-forma EPS of $0.97 also beat our estimate of $0.92 and consensus of $0.90. Management raised full-year guidance stating that growth is being driven by continued smartphone growth and the adoption of 3G and 4G technologies. We continue to believe that Qualcomm is well positioned to benefit from underlying demand trends in wireless technologies."
"One wrinkle emerged on the call. The DOJ has begun a probe of the company around unspecified charges related to the Foreign Corrupt Practices Act. The company received notification of this last week and they termed the matter too preliminary to offer further detail at this stage."
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.
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