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UPDATE: Northland Capital Markets Upgrades Qualcomm (QCOM) to Outperform

July 23, 2014 7:32 AM EDT
Get Alerts QCOM Hot Sheet
Price: $169.30 +0.10%

Rating Summary:
    28 Buy, 21 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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(Updated - July 23, 2014 8:07 AM EDT)

Northland Capital Markets upgraded Qualcomm (NASDAQ: QCOM) from Market Perform to Outperform with a price target of $90.00.

Analyst Tom Sepenzis said, "Qualcomm reports tonight, what should be a pretty solid quarter driven by LTE growth in multiple new markets. While it is experiencing competition in China and other emerging regions, the overall growth in LTE should help the chipmaker top our forecast and consensus."

"We are currently modeling $6.4 billion in revenue and $1.21 for the June quarter vs. consensus of $6.5 and $1.22 in EPS. We believe that expectations are for better results, somewhere around the $6.6 billion and $1.25 mark for June, with a September increase in the wings," he added.

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 $81.53 yesterday.



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