VNE - Qualcomm gets mild lift as Canaccord raises target to $225 a share

Qualcomm (NASDAQ:QCOM) shares edged north Thursday after Canaccord Genuity analyst Michael Walkley raised his price target on the chipmaker's stock to $225 a share. Walkley made the move after hosting a fireside chat with Qualcomm (QCOM) Chief Executive Cristiano Amon at a Canaccord conference. The analyst said the opportunities from the expansion of 5G smartphone use were among the reasons for his upbeat take on the company's stock-price potential. Walkley earlier had a $200-a-share price target in place. Walkley said new business with Google (NASDAQ:GOOG) Android phone makers, as well as "overall market share gains with a full year of shipping to Apple" should boost Qualcomm's 5G sales down the road. Qualcomm (QCOM) recently attracted some attention when the San Diego-based company threw its hat in the ring with a bid to acquire Swedish automotive technology developer Veoneer (NYSE:VNE) for $37 a share, or about $4.6 billion.

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Qualcomm gets mild lift as Canaccord raises target to $225 a share