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home / news releases / QCOM - Qualcomm price targets raised after 'stunning' quarter ahead of 2021 'sweet spot'

QCOM - Qualcomm price targets raised after 'stunning' quarter ahead of 2021 'sweet spot'

QUALCOMM Incorporated
Morgan Stanley (Overweight) raises its Qualcomm (QCOM) price target from $121 to $159. Analyst Joseph Moore cites the "very strong quarter across the board" with sustainable improvements.Moore says 2021 will be the "sweet spot" for QCOM and 5G "with every global handset manufacturer paying license fees, no real legal threat, and still a premium price point."The analyst also prices the company's new, deeper QTC metrics, which "adds significant visibility to growth drivers."Rosenblatt's Kevin Cassidy (Buy) raises his PT from $130 to $155, noting the "stunning results and guide" and calling QCOM "the pure play investment for the 5G market" in the early stages of growth.Other PT boosts: Raymond James (Strong Buy) from $120 to $150, Cowen (Outperform) from $150 to $170, Mizuho (Buy) from $145 to $154.Qualcomm shares are up 16% pre-market to $149.60.Previously: Qualcomm surges after 5G-driven FQ4 beats, upside forecast (Nov. 04 2020)

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Qualcomm price targets raised after 'stunning' quarter, ahead of 2021 'sweet spot'
Stock Information
Company Name: QUALCOMM Incorporated
Stock Symbol: QCOM
Market: NASDAQ
Website: qualcomm.com
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