QCOM - Qualcomm gets Street-high target with bullish Baird start on 5G market position

Saying the company is at "the center of the unfolding 5G secular cycle," Baird starts Qualcomm (QCOM) with an Outperform rating and Street-high price target of $200.Analyst Tristan Gerra says Huawei's "dynamics" will benefit QCOM's market share in China in 2021.In the long-term view, Gerra thinks Qualcomm will leverage its tech for AI applications in the auto and consumer sectors.Qualcomm shares are up 0.2% AH to $146.66. The stock has a Bullish average Wall Street analysts rating with a $158.73 price target.

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Qualcomm gets Street-high target with bullish Baird start on 5G market position