Benzinga

Analysts Bump Up Qualcomm Price Target Post Q4 Beat

Analysts bumped up their price targets on Qualcomm Inc (NASDAQ: QCOM) following the Q4 beat and strong Q1 FY22 outlook. Morgan Stanley analyst Joseph Moore raised the PT to $187 from $180, implying a 21% upside, and reiterated an Overweight. While he had “high confidence” in Qualcomm numbers, Moore was “still surprised at the magnitude of upside,” as the company beat his revenue and earnings estimates by 5% and 15% and guided to 20% earnings growth in FY22 that was about 15% higher than his esti

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