Qualcomm Earnings Release Available on Company's Investor Relations Website
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Qualcomm (QCOM) PT Raised to $59 at RBC Capital
July 21, 2016 6:46 AM EDTRBC Capital analyst Amit Daryanani reiterated a Sector Perform rating and raised its price target on Qualcomm (NASDAQ: QCOM) to $59.00 (from $55.00) following solid Q2 results.
Daryanani highlighted:
QTL revenues for the year to $7.47.8B (from $7.28.0B), well ahead of buyside expectations of ~$7.2B. Some of the upside to Sep-qtr is driven by catch-up payments from LG and other Chinese OEMs, although we think QCOM is only building in a partial amount of this Sep-qtr (could yield further upside in Dec as well). Fundamentally, we think QCOM remains well positioned to... More
