Qualcomm (QCOM) PT Lowered to $185 at Cowen

Cowen analyst Matthew Ramsay lowered the price target on Qualcomm (NASDAQ: QCOM) to $185.00 (from $220.00) while maintaining ann Outperform rating ahead of Q3 results.

The analyst commented, "Well understood headline risk from smartphone weakness shouldn't overshadow the story. We see Qualcomm better insulated within the smartphone space, and investors under-appreciating the company's ability to leverage and monetize its wireless and low power compute IP into auto/industrial/PCs. Reit Outperform, ests tick down on smartphone units and PT to $185 on sector-wide valuation compression."

You May Also Be Interested In

• TD Cowen Resumes IsoEnergy Ltd (ISO:CN) at Buy
• TD Cowen Downgrades Roots Corp. (ROOT:CN) (RROTF) to Sell
• Emkay Global Starts Pearl Global Industries (PGIL:IN) at Buy (1)