Canaccord raises Qualcomm price target to 26% upside

Jan. 17, 2018 11:42 AM ETQUALCOMM Incorporated (QCOM)QCOMBy: Brandy Betz, SA News Editor22 Comments
  • Canaccord Genuity raises its Qualcomm (NASDAQ:QCOM) price target by $3 to $86 after the company’s shareholder letter. The price target is 26% higher than yesterday’s closing price.
  • ”Qualcomm’s acquisition of NXP remains on track and will create a company with significant earnings power and cash flow, developing into a clear industry leader in the mobile, IoT, and automotive semiconductor markets backed by the extremely strong combined IP portfolio of Qualcomm, NXP, and Freescale,” writes analyst T. Michael Walkley.
  • The firm also believes Apple and Qualcomm will ultimately settle their legal battles.  
  • Qualcomm shares are up 0.4% to $68.53. 
  • Previously: Macquarie raises Qualcomm price target on Broadcom, price cuts (Jan. 17)

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