Oppenheimer Lifts Estimates, Price Target on Qualcomm (QCOM)
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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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Oppenheimer boosted its price target on Outperform-rated Qualcomm (NASDAQ: QCOM) from $70 to $75 saying they expect a good March quarter spurred by Apple and Samsung.
"We're also incrementally more comfortable Qualcomm will gain share in 2012-13 due to its favorable vendor mix as the iPhone 5 and new Galaxy phones launch and with increased 4G LTE adoption," the analyst commented. "We're raising our estimates accordingly and see the potential for upside as normal chipset ASP declines could be muted by accelerating LTE adoption."
Qualcomm's projections suggest a third of its volume exiting 2012 could include LTE, the firm notes. Overall, they expect Qualcomm to continue to see the benefits of 3G/4G adoption, smartphones, share gains and TAM expansion.
The firm raised FY12 EPS from $3.71 to $3.81 and FY13 from $3.91 to $4.17.
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 $66.50 yesterday.
"We're also incrementally more comfortable Qualcomm will gain share in 2012-13 due to its favorable vendor mix as the iPhone 5 and new Galaxy phones launch and with increased 4G LTE adoption," the analyst commented. "We're raising our estimates accordingly and see the potential for upside as normal chipset ASP declines could be muted by accelerating LTE adoption."
Qualcomm's projections suggest a third of its volume exiting 2012 could include LTE, the firm notes. Overall, they expect Qualcomm to continue to see the benefits of 3G/4G adoption, smartphones, share gains and TAM expansion.
The firm raised FY12 EPS from $3.71 to $3.81 and FY13 from $3.91 to $4.17.
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 $66.50 yesterday.
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