Nomura Securities Maintains a 'Neutral' on Qualcomm (QCOM); Raising Estimates
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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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Nomura Securities maintains a 'Neutral' on Qualcomm (NASDAQ: QCOM), PT $53.
Nomura analyst, Romit Shah, says, "We have increased our EPS estimates from $3.07 to $3.18 for FY11 and from $3.40 to $3.50 for FY12 following F3Q (June) revenue and EPS that exceeded our expectations. While our estimates for F4Q and FY12 are increasing, we believe MSM chipset guidance and higher inventories could pressure the stock. As such, we maintain our rating and price target. We estimate that the company is the most expensive stock in our coverage, trading at 17x P/E NTM vs. an average of 12x for our coverage. While the company is well positioned to benefit from the growth in wireless and share gains at RIM and Nokia, we believe it is priced in the stock."
For more ratings news on Qualcomm click here and for the rating history of Qualcomm click here.
Shares of Qualcomm closed at $57.30 yesterday.
Nomura analyst, Romit Shah, says, "We have increased our EPS estimates from $3.07 to $3.18 for FY11 and from $3.40 to $3.50 for FY12 following F3Q (June) revenue and EPS that exceeded our expectations. While our estimates for F4Q and FY12 are increasing, we believe MSM chipset guidance and higher inventories could pressure the stock. As such, we maintain our rating and price target. We estimate that the company is the most expensive stock in our coverage, trading at 17x P/E NTM vs. an average of 12x for our coverage. While the company is well positioned to benefit from the growth in wireless and share gains at RIM and Nokia, we believe it is priced in the stock."
For more ratings news on Qualcomm click here and for the rating history of Qualcomm click here.
Shares of Qualcomm closed at $57.30 yesterday.
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