Deutsche Bank Reaffirms “Buy” Rating on Qualcomm (QCOM)
Deutsche Bank analysts reiterated a bullish rating on wireless technology giant Qualcomm, Inc. (QCOM) on Monday following the announcement of a new product line.
The analysts maintain a “Buy” rating on QCOM with a price target of $78. This suggests an 18% upside to Friday’s closing price of $66.30.
A Deutsche Bank analyst noted, “The week before the Mobile World Congress, Qualcomm made its announcement of the RF360 Front End Module (FEM). As we noted in our comments last week, this product line is a result of over five years of internal development at QCOM. The RF360 is expected to start shipping in two phones later this year. At MWC, we met with most of QCOM’s baseband competitors, several component suppliers, device vendors and industry contacts. Bottom line, we reiterate our Buy rating on QCOM.”
Qualcomm shares were up a fraction during Monday trading. The stock is up +6.33% over the past twelve months.
The Bottom Line
Shares of Qualcomm, Inc. (QCOM) have a dividend yield of 1.50% based on Monday’s intraday trading price of $66.47 and the company’s annualized dividend payout of $1.00 per share.
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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