Canaccord Genuity Reiterates a 'Buy' on Qualcomm (QCOM); Solid January China 3G Growth; New Huawei/ZTE Deals Announced
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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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Canaccord Genuity reiterates a 'Buy' on Qualcomm (NASDAQ: QCOM) price target of $75.00.
Analyst, T. Michael Walkley, said, "Recent subscriber reports from Chinese wireless carriers indicate 3G subscriber growth and device sales remain strong, with January reports indicating 3G net additions of 8.2M. While down from record December levels, January marked the third highest 3G subscriber addition month in history. With 3G subs making up only 13.7% of China’s roughly 988M total subscribers, we believe 3G growth trends will remain strong, and Qualcomm is well positioned to benefit from increased QTL royalties and growing sales for its integrated S4-series chipsets."
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 $62.52 yesterday.
Analyst, T. Michael Walkley, said, "Recent subscriber reports from Chinese wireless carriers indicate 3G subscriber growth and device sales remain strong, with January reports indicating 3G net additions of 8.2M. While down from record December levels, January marked the third highest 3G subscriber addition month in history. With 3G subs making up only 13.7% of China’s roughly 988M total subscribers, we believe 3G growth trends will remain strong, and Qualcomm is well positioned to benefit from increased QTL royalties and growing sales for its integrated S4-series chipsets."
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 $62.52 yesterday.
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