Canaccord Genuity Gives Buy Rating to QUALCOMM (QCOM)

By admin | 6 years ago

QUALCOMM (NASDAQ: QCOM)‘s stock had its “buy” rating restated by equities researchers at Canaccord Genuity in a report issued on Tuesday.

Shares of QUALCOMM traded up 2.27% during mid-day trading on Tuesday, hitting $58.48. QUALCOMM has a one year low of $45.98 and a one year high of $68.87. The company has a market cap of $100.3 billion and a P/E ratio of 17.23.

QUALCOMM last issued its quarterly earnings data on Wednesday, April 18th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.05. The company’s revenue for the quarter was up 27.7% on a year-over-year basis. On average, analysts predict that QUALCOMM will post $0.91 earnings per share next quarter.

A number of other firms have also recently commented on QCOM. Analysts at UBS AG (NYSE: UBS) reiterated a “positive” rating on shares of QUALCOMM in a research note to investors on Tuesday, May 29th. Separately, analysts at Oppenheimer (NYSE: OPY) cut their price target on shares of QUALCOMM from $75.00 to $70.00 in a research note to investors on Wednesday, May 23rd. They now have an “outperform” rating on the stock. Finally, analysts at Credit Suisse (NYSE: CS) cut their EPS estimates on shares of QUALCOMM in a research note on Friday. They now have an “outperform” rating and a $75.00 price target on the stock.

QUALCOMM Incorporated (Qualcomm) designs, manufactures and markets digital wireless telecommunications products and services based on its code division multiple access (CDMA) technology and other technologies.

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