UBS Reiterates a 'Buy' on Qualcomm (QCOM); Strength vs. Weakness, A Tug of War
Tweet
Share
E-mailGet Alerts QCOM Hot Sheet
Price: $165.79 +0.61%
Rating Summary:
25 Buy, 33 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
Rating Summary:
25 Buy, 33 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
Join SI Premium – FREE
UBS reiterates a 'Buy' on Qualcomm (NASDAQ: QCOM) price target of $70.00 (from $73.00).
Analyst, Parag Agarwal, said, "QCOM results validate our view that despite a challenging macro environment, smartphone market, especially at high end remains generally strong, and QCOM’s high margin licensing revenue stream, which we estimate contributes roughly 65% of valuation remains intact."
Although Agarwal lowers his price target, citing issues hampering the chip business. UBS also cuts FY12 EPS estimate from $3.31 to $3.15 and FY13 from $4.03 to $3.65.
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 $56.05 yesterday.
Analyst, Parag Agarwal, said, "QCOM results validate our view that despite a challenging macro environment, smartphone market, especially at high end remains generally strong, and QCOM’s high margin licensing revenue stream, which we estimate contributes roughly 65% of valuation remains intact."
Although Agarwal lowers his price target, citing issues hampering the chip business. UBS also cuts FY12 EPS estimate from $3.31 to $3.15 and FY13 from $4.03 to $3.65.
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 $56.05 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Berenberg Upgrades Accelleron Industries AG (ACLN:SW) to Buy
- Berenberg Upgrades Mobileye N.V (MBLY) to Buy
- Rothschild Redburn Upgrades Apple (AAPL) to Buy
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
UBSSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
