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Stifel lowers Qualcomm target after earnings

Published 04/26/2018, 09:19 AM
© Reuters.  Stifel lowers Qualcomm target after earnings
QCOM
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  • Stifel maintains a Hold rating and lowers its Qualcomm (NASDAQ:QCOM) price target from $56 to $54, an 8.5% upside to yesterday’s close.
  • The firm says Qualcomm reported a good beat on higher QCT revenue and that the fundaments of the business are performing to expectations.
  • Stifel drops its FY19 non-GAAP EPS estimate and 12-month target price on possible extended IP collection and higher litigation costs.
  • Qualcomm shares are up 1.2% premarket to $50.36.
  • Previously: Qualcomm +2.8% on Q2 beats, in-line revenue guidance (April 25)
  • Now read: The European Central Bank Updates, And The EU Monitors Imports (Wall Street Breakfast Podcast)


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