After QUALCOMM (NASDAQ:QCOM)’s stock dropped 4% after reporting lower than expected Q2 revenue, Argus expects the company to benefit from the development of LTE technology in China. The firm keeps a Buy rating on the stock.
The company reported earnings on April 23rd beating the consensus EPS by nearly $0.10. Revenues came in at $6.37 billion against the $6.48 billion expected.
Analysts have a consensus price target of $78.13 on QUALCOMM (NASDAQ:QCOM) which indicates a .33% upside. The consensus rating of the stock is a BUY with a score of 2.72. There are currently 9 Hold Ratings and 23 Buy ratings on the stock.
Three additional analysts boosted Qualcomm’s price target yesterday as Brean Capital, Northland Securities and Evercore Partners all increased their numbers.
Qualcomm has a 50 day moving average of $78.48 and a 200 day moving average of $73.84. The current quarter EPS consensus estimate is $5.18. The stock’s EBITDA was $8.5 billion over the previous 12 months.
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