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