Courtesy of Benzinga.
Argus reiterated its rating and increased the price target on QUALCOMM, Inc. (NASDAQ: QCOM) following the release of its Snapdragon processors. These processors, the firm noted, are meant for embedded applications in multiple verticals addressing embedded computing and the Internet of Things.
Leveraging Successfully
Argus believes the company is leveraging its industry-leading expertise in mobility to introduce solutions beyond smartphones. To support its belief, Argus noted that the company is working with automotive OEMs and healthcare companies to deploy its advanced mobility and connectivity solutions in vehicles, healthcare equipment, etc.
Rating Action
Argus reiterated its Buy rating on the shares of Qualcomm, while it raised its price target to $73 from $70.
At the time of writing, Qualcomm shares were up 5.03 percent on the day at $66.60.
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Latest Ratings for QCOM
Date | Firm | Action | From | To |
---|---|---|---|---|
Sep 2016 | Argus Research | Maintains | Buy | |
Jul 2016 | Standpoint Research | Downgrades | Buy | Hold |
Jul 2016 | Oppenheimer | Maintains | Perform |
View More Analyst Ratings for QCOM
View the Latest Analyst Ratings
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