Canaccord Genuity Reiterates a 'Buy' on Qualcomm (QCOM); China 3G Growth Trends Continue - Top 1 Bln
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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 February reports indicating 3G net additions of 7.9M. While down from record December levels, February marked a strong growth month, ending the month with 144M 3G subs and total Chinese wireless subscribers hitting 1 billion. With 3G subs comprising only 14.4% of China’s total subscribers, we believe that 3G growth trends will remain strong, and that 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 $66.75 yesterday.
Analyst, T. Michael Walkley, said, "Recent subscriber reports from Chinese Wireless carriers indicate 3G subscriber growth and device sales remain strong, with February reports indicating 3G net additions of 7.9M. While down from record December levels, February marked a strong growth month, ending the month with 144M 3G subs and total Chinese wireless subscribers hitting 1 billion. With 3G subs comprising only 14.4% of China’s total subscribers, we believe that 3G growth trends will remain strong, and that 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 $66.75 yesterday.
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