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Credit Suisse Raises Price Target, Estimates on Qualcomm (QCOM)

By
January 8th, 2013

Credit Suisse Raises Price Target, Estimates on Qualcomm (QCOM)

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Wireless tech giant Qualcomm, Inc. (QCOM) had its price target and earning estimates raised at Credit Suisse on Tuesday as the company has potential to expand its margins.

Analysts now see shares of QCOM reaching $75, a +17.2% upside to Monday’s closing price of $64.01. The firm also backed its “Outperform” rating on the San Diego-based company.

Qualcomm shares were up 49 cent, or +0.77%, during premarket trading on Tuesday. The stock is up +13.98% over the past year.

The Bottom Line
Shares of Qualcomm (QCOM) have a 1.56% dividend yield, based on last night’s closing stock price of $64.01. The stock has technical support in the $60 price area. If the shares can firm up, we see overhead resistance around the $66-$68 price levels.

Qualcomm, Inc. (QCOM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.